2023-07-03 07:43:08 ET
L3Harris Technologies ( NYSE: LHX ) is considering a potential sale of its avionics business.
The aerospace and defense company is working with advisers on a possible sale of the unit, which could see $1 billion in a deal based on typical earnings multiples, according to a Bloomberg report on Monday, which cited people familiar with the matter. The unit may receive interest from both strategic buyers and buyout firms.
No decision has been made, and L3 Harris ( LHX ) could decide to retain the avionics unit.
A potential sale comes after a report last month that Safran ( OTCPK:SAFRF ) was close to a $1.8 billion acquisition of a unit of Raytheon Technologies ( RTX ) that makes flight controls for aircraft and missiles.
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- Why Buy L3Harris As Shares Dip Lower
For further details see:
L3Harris evaluating sale of its $1B avionics business - report