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BAE Completes Acquisition of L-1’s Intelligence Services Business

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Britain's BAE Systems has completed its acquisition of the intelligence services businesses of L-1 Identity Solutions [ID], clearing a hurdle for the conclusion of the sale of the rest of L-1 to France's Safran Group. BAE paid $295.8 million in cash for several L-1 business units and is assuming $7.2 million in obligations. L-1 is using the proceeds of the BAE purchase to repay outstanding indebtedness under its credit facility, which will leave the company with a balance of less…

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