Weil, Skadden Guide $1.6B L-1 Identity-Safran Merger

Law360, New York (September 20, 2010, 12:41 PM EDT) -- French aerospace, defense and security company Safran SA on Monday announced an agreement to acquire Stamford, Conn.-based L-1 Identity Solutions Inc. in a deal valued at $1.6 billion.

Under the merger agreement, L-1 stockholders will receive $12 per share in cash, for an aggregate value of approximately $1.6 billion including outstanding debt. The per-share price of $12 represents a premium of 24 percent over L-1's closing stock price on Sept. 17, and a premium of 66 percent over the closing stock price on Jan. 5, the...
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