L-3 to buy Titan for about $2 bln in cash NEW YORK (Reuters) - L-3 Communications Holdings Inc. on Friday said it would buy Titan Corp. for about $2 billion in cash, expanding its reach in defense-intelligence technologies. In the long-expected deal, Titan shareholders will receive $23.10 per share in cash, a modest 1.4 percent premium to the stock's closing price of $22.79 on Thursday on the New York Stock Exchange. The stock had run up recently in anticipation of a transaction. Including the assumption of debt, L-3 said the deal -- slated to close in the second half of 2005 -- would have a total value of $2.65 billion. Titan had been the target of a previous takeover bid by defense giant Lockheed Martin Corp. in late 2003, but that deal was scrapped over a foreign bribery probe of Titan, which has since been settled. L-3, which has grown through a series of defense acquisitions, said it expected the takeover to add about $2.7 billion in sales and 25 cents to earnings per share in 2006. Quelle "L-3 to buy Titan for about $2 bln in cash" : reuters.com Main page for "L-3 to buy Titan for about $2 bln in cash"