Thursday, March 8, 2012

L-3 spinoff

From the L-3 Communications Holdings (LLL) 10K filed 2/29/2012
On July 28, 2011, the Company announced that its Board of Directors approved a plan to spin-off a new, independent government services company that will be publicly traded. The new public company will be named Engility Holdings, Inc. (Engility). The spin-off, which is intended to be tax-free to L-3 and its shareholders, is expected to be completed in the first half of 2012. Upon completion, L-3 shareholders will own 100% of the shares of both L-3 and Engility. The spin-off is not subject to a shareholder vote.

1 comment:

  1. What is anticipated to be the ratio of shares from the spinoff?