The Firm is representing Exelis Inc. (“Exelis”) in connection with its announced plan to spin-off its military and government services business, currently called Exelis Mission Systems, into a new independent public company. This business is currently part of Exelis’ Information and Technical Services segment. The proposed spin-off is subject to customary regulatory approvals, including final approval by Exelis’ board of directors and is expected to be completed by the summer of 2014.
Exelis (NYSE: XLS) is a diversified, top-tier global aerospace, defense, information and services company that leverages a 50-year legacy of deep customer knowledge and technical expertise to deliver affordable, mission-critical solutions for global customers. It is a leader in timing and navigation, sensors, air traffic solutions, image processing and distribution, communications and information systems, logistics and technical services; and it is focused on strategic growth in the areas of critical networks, ISR and analytics, electronic warfare and composite aerostructures. Exelis Mission Systems delivers innovative, cost-effective service solutions for some of the world's most demanding challenges in facilities management, logistics and communications networks. In 2011, the Firm represented ITT Corporation in connection with its spin-off of Exelis and Xylem Inc.
The Simpson Thacher team includes Caroline Gottschalk, Ariel Oxman and Joe Ronca (M&A); Arjun Koshal and Michael Guo (Capital Markets); Gary Mandel, Drew Purcell and Jacqueline Barbera (Tax); and David Rubinsky and Paul Koppel (Executive Compensation and Employee Benefits). Former summer associate, Jacob Vadeboncoeur, also provided invaluable assistance.