Titan Is Said to Be in Talks With L-3
From Reuters
Defense contractor Titan Corp. has been in talks about being bought by L-3 Communications Holdings Inc., the Wall Street Journal reported on its website.
The San Diego-based company, which sells information and communication systems primarily to the U.S. military, agreed to be bought by defense giant Lockheed Martin Corp. in 2003, but the deal collapsed over an overseas bribery investigation of Titan.
Titan canceled two investor presentations this week, an investment bank representative said, prompting talk that it could be in merger talks. Neither Titan nor L-3 executives would comment.
