Sign In
Search
Business/Financial

Exelis Sets Spin-Off Date For Vectrus, Expects $120 Million Cash Back

Cal Biesecker By
SHARE:
Exelis Sets Spin-Off Date For Vectrus, Expects $120 Million Cash Back

Exelis [XLS] on Monday said the planned spin-off of its Mission Systems business will occur on Sept. 27 with the new company set to begin trading on the New York Stock Exchange as Vectrus [VEC] on Sept. 29. Exelis said that Vectrus will incur about $140 million in debt financing as part of the spin-off, which will be used to fund an approximately $120 million cash distribution to Exelis. Exelis said it will be paid an additional sum following the…

Subscriber-only content. Please log in below.

Not a subscriber or registered user yet?

Please contact us at clientservices@accessintel.com or call us at 888-707-5814 (Monday – Thursday 9:00 a.m. – 5:30 p.m. and Friday 9:00 a.m. – 3:00 p.m. ET.), to start a free trial, get pricing information, order a reprint, or post an article link on your website.

Recommended

Business/Financial

Aalyria Posts $100M Series B Funding Round

Business/Financial

Leonardo DRS Ends Strong Year With Robust Fourth Quarter

Business/Financial

Turbojet Engine Manufacturer PBS Aerospace In Subcontract With Zone 5

Business/Financial

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Trending

Air Force Acquisition Official: ‘APG-85 Is A Helluva Radar Unless You Don’t Have One’
Rolls-Royce F130 Engine For B-52 Passes Altitude And Operability Testing, Company Says
Kratos, GE Win Air Force Contract For GEK1500 Engine Preliminary Design
Anduril Gets $44 Million In DPA Funding To Expand Rocket Motor Production
Contract Awards

Congress Updates

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

Congress

“Not Sure How They Get To Where They Wanna Be,” Calvert Says of $1.5 Trillion Defense Topline Proposal

As the federal government enters a third week of tardiness in a fiscal 2027 budget release, a big question is how the Pentagon will be able to spend $500 billion […]

Congress

Path Uncertain For $1.5 Trillion FY ‘27 Defense Topline After Trump Casts Doubt On Second Reconciliation Bill

The path to achieve the White House’s call for a $1.5 trillion defense topline in 2027 appears murkier now after President Donald Trump has cast doubt on the prospects of […]

Congress

Senate Budget Dems Push For Defense Reconciliation Spending Details, Cite ‘Slush Fund’ Concerns

Democrats on the Senate Budget Committee have raised “significant concern” with the Pentagon’s move to classify reconciliation spending plans, urging the department to provide more public details on how the […]

The Force Multipliers

Force Multipliers

Arne Brinck – Dark Wolf Solutions

Force Multipliers

Jags Kandasamy – Latent AI

Force Multipliers

Force Multipliers – Krista McKendree

Force Multipliers

Force Multipliers – Fred Taylor

Job Feed

Post a Job // Post a Resume