NEW YORK CITY, 23 May 2006. L-3 Communications announced that it has issued an offer to acquire TRL Electronics plc of Europe.
The offer values the existing issued ordinary share capital of TRL at GBP 89.7 million (approximately US $168.8 million). TRL's Board of Directors is unanimously recommending that TRL shareholders approve the transaction.
The offer, which will be made by Lehman Brothers on behalf of L-3 Communications Group plc, a wholly owned subsidiary of L-3 Communications, is conditional on the consent of the UK Ministry of Defence (MOD.
TRL Electronics reported sales of GBP 14.0 million (approximately US $26.3 million) for the six months ended September 30, 2005.
TRL offers radio and satellite communications systems, providing governments and defense organizations around the world with the tools to trace, locate, monitor, and defend transmissions, as well as to communicate securely.
TRL's Electronic Security division is a specialist in the protection of sensitive electronic data during transmission and storage using cryptographic techniques, and it is a provider of military-grade ATM and IP network cryptography.
