'L3Harris Explores Sale Of $1B Avionics Unit; U.S. Aerospace Company Is Working With Adviser On Potential Sale; Avionics Business Could Attract Buyout And Strategic Suitors' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
L3Harris Technologies Inc. is reportedly exploring a sale of its avionics business, which could fetch about $1 billion. The company is working with an adviser on the potential sale, which could attract interest from private equity firms and strategic buyers. No final decision has been made and L3Harris could opt to hold onto the business. The company's shares have fallen about 15% in the past year due to elevated material costs.
July 03, 2023 | 3:32 pm
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L3Harris Technologies is considering selling its avionics business. This could potentially bring in $1 billion, but no final decision has been made. The company's stock has fallen 15% in the past year.
The potential sale of the avionics business could bring in significant capital for L3Harris, but it's unclear how this will affect the company's overall strategy and financial health. The company's stock has been under pressure, falling 15% in the past year, and this news could potentially impact investor sentiment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100