L-3 Announces Acquisition of Assets of Implant Sciences Corporation
10.11.16
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Simpson Thacher represented L-3 Communications (NYSE: LLL) in connection with the recently announced agreement to acquire certain assets of Implant Sciences Corporation for $117.5 million in cash, plus the assumption of specified liabilities. Implant has recently entered into Chapter 11 Bankruptcy protection, and the consummation of the transaction will be subject to approval of the U.S. Bankruptcy Court and other customary closing conditions and regulatory approvals.
L-3 employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military and commercial platforms. L-3 is also a prime contractor in aerospace systems.
The Simpson Thacher team included Bill Curbow, Ravi Purushotham and Elizabeth Romefelt (M&A); Sandy Qusba and Nicholas Baker (Bankruptcy); David Rubinsky, Aimee Adler and Eric Wolf (ECEB); John Creed and Taylor Alexander (Tax); Lori Lesser and Genevieve Dorment (IP); Michael Isby (Environmental); and Krista McManus (Real Estate).