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July 3, 1997updated 05 Sep 2016 12:02pm


By CBR Staff Writer

Raytheon Corp says it is now in the final stages of clearing its $3bn takeover of Texas Instruments Inc’s defense business with the US Justice Department (CI No 3,072). A decision is expected anytime, the company told Reuters. Raytheon is also in the process of acquiring the defense business of Hughes Electronics Corp for $9.5bn. Meanwhile, Texas Instruments has sold off several semiconductor equipment businesses to Singapore-based Flextech Holdings Ltd, for $9.4m. The businesses are based in Dallas and Singapore.

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