Hazeltine will be acquired by Emerson Electric.
Commack, N.Y.-based Hazeltine Corp., a manufacturer of electronic systems, said it has agreed to be purchased by Emerson Electric for about $189 million. Analysts said the move is tied to Hazeltine’s recent loss of a key Air Force contract. E. F. Hutton analyst Peter Aseritis said the contract loss led Hazeltine to seek a buyer for the company. The contract represented about $1 billion in revenue over the next 10 years, he said. The company still has a contract with the Federal Aviation Administration for a microwave landing system to guide airplanes into airports.