Two leading European defense companies are breaking up U.S. security firm L-1 Identity Solutions in a two-part transaction valued at $1.6 billion, including debt. French aerospace and security conglomerate Safran will pay more than $1.1 billion to acquire most of L-1, which specializes in biometrics identification. L-1's government consulting and intelligence services division will be sold to Britain's BAE Systems. Firms involved in the deal include Skadden, Weil Gotshal, Crowell & Moring and Kaye Scholer.
4 Firms Advise on $1.6 Billion Security Deal for L-1 Identity Solutions
The American Lawyer
September 20, 2010