Harris to sell broadcast communications unit for $225 mln
Dec 6 (Reuters) - Harris Corp, a maker of tactical radios used by the military, said it will sell its broadcast communications unit to an affiliate of the Gores Group LLC for $225 million.
The offer price includes $160 million in cash, a $15 million subordinated promissory note and a $50 million payout based on future performance, Harris said in a statement.
The transaction is expected to be completed in early 2013, the company said.
- Abbas-led Palestinian body backs Hamas truce demands in Gaza |
- UPDATE 4-Train carrying MH17 bodies reaches government-held Ukrainian city
- Rebels likely downed Malaysian jet 'by mistake': U.S. officials
- Islamic State crushes and coerces on march towards Baghdad
- Microsoft sees end to Nokia losses, shares rise after hours