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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: WebDrone who wrote (9047)6/15/1998 11:16:00 PM
From: Eric L.   of 42804
 
Raytheon Sells Majority
Stake In Whittaker For A
Loss

Dow Jones Newswires

NEW YORK -- Whittaker Corp.'s (WKR)
single largest shareholder, Raytheon
Corp. (RTNA RTNB), has sold its stake
at a loss.

Raytheon sold its 1.97 million shares in
the Simi Valley, Calif., maker of
fluid-control and fire-safety systems,
June 12, according to a filing with the
Securities and Exchange Commission. It
sold its stake to Canpartners
Investments at $11.95 a share, or $23.6
million.

Raytheon received the shares in 1996
when it sold its Xyplex Inc. subsidiary to
Whittaker for $68 million in cash and
stock worth $50 million. Whittaker
agreed in January to sell Xyplex to MRV
Communications (MRVC) for $35 million
in cash and warrants to acquire 500,000
MRV Communications shares.

Raytheon is a Lexington, Mass.-based
aerospace and defense company.

-By Lynn Cowan 201-938-5451


Just for the threads FYI, can't say how to interpet but always like to know everything that's going on....
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