Allied-Signal Inc. announced that West Germany’s Siemens...

Allied-Signal Inc. announced that West Germany’s Siemens AG will acquire a majority interest in its Bendix Electronics Group. The Morristown, N.J.-based aerospace, automotive parts and materials conglomerate said Siemens has an option to purchase the remaining interest in the unit in three years. It said Siemens is expected to pay $200 million to $300 million for Bendix, which will result in a substantial one-time gain after completion of the transaction before the year-end.