Aydin Corp. approves sale to L-3

Article Abstract:

Aydin Corp., a Newtown defense electronics firm, agreed to be acquired by L-3 Communications of New York under pressure from a group of dissident shareholders. The sale price is $73.3 million cash. The $13.50 per share offer by L-3 communications is seen to be in the best interest of the shareholders, according to the Full Value Committee. A wholly-owned subsidiary of L-3 Communications will make a tender offer for outstanding Aydin shares. L-3 said Aydin's electronic systems business will boost its international market share for earth stations and other wireless products.

Comment:

Aydin Corp., a Newtown defense electronics firm, agreed to be acquired by L-3 Communications of New York under pressure from a group of dissident shareholders.

United States, Asset sales & divestitures, Acquisitions & mergers, Communications Equipment, Communications Equipment Manufacturing, Electronic parts and equipment, Electronic Parts Wholesale, Other Electronic Parts and Equipment Wholesalers, Telecommunications equipment, Electronics wholesalers, Aydin Corp. (Horsham, Pennsylvania), AYD, L-3 Communications Holdings Inc.

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Penna. is ready for its close-up

Article Abstract:

The US Governor Rendell plans to reduced the growing competition from Canada with new tax breaks for producers of movies and television programs which will benefit production companies that spend at least 6- percent of a film or television show's production cost in Pennsylvania. These firms would be eligible for a tax credit equal to 20 percent of production costs, up to $10 million per project.

Legal issues & crime, Government regulation (cont), Government regulation, Motion picture & video production, Taxes, Legal/Government Regulation, Pennsylvania, Taxation, Laws, regulations and rules, Motion picture industry, Video production companies, Film and video production companies, Television production companies

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