Advertisement
YOU ARE HERE: LAT HomeCollections

In Brief / ACQUISITIONS

ITT buys maker of bomb 'jammer'

September 18, 2007|From Times Wire Reports

ITT Corp., the maker of pumps and night-vision goggles, agreed to buy EDO Corp. for about $1.58 billion to add products such as "jammers" that prevent remotely triggered roadside bombs from detonating.

ITT will pay about $56 a share for all of EDO's outstanding common stock and shares available to investors who hold convertible debt. ITT also will assume about $123 million in debt.

Advertisement
Los Angeles Times Articles
|
|
|