Raytheon... Evolutionary Expectations + Acquiring Minds Wish To Know...
[SatNews] Raytheon Company (NYSE: RTN) has entered into a letter of intent with the University of California, Los Angeles (UCLA) to engage in a strategic relationship with the Henry Samueli School of Engineering and Applied Science for the establishment of the UCLA Center for Public Safety Network Systems.
To lay the foundation for the new center, Raytheon has committed to initially contribute $1 million during three years to the UCLA Institute for Technology Advancement (ITA) of the School of Engineering and Applied Science to conduct research in the areas of public safety networks. The mission of the UCLA-ITA Public Safety Network Systems Center is to bring together academia, industry and public safety agencies to provide technical leadership, a collaborative forum for research, as well to establish standards for public safety networks. The center will operate to benefit the public safety agencies and guide the public safety community in the evolution of technologies and standards. Any public or private organization that meets the membership requirements to be established by UCLA will be welcome to join the center.
Raytheon has also completed its tender offer, through its wholly owned subsidiary RN Acquisition Company, for all outstanding shares of Applied Signal Technology, Inc. (Nasdaq: APSG).
The tender offer expired at 12:00 midnight, Eastern Time, on Friday, January 28, 2011. Based on information provided by BNY Mellon Shareowner Services, the depositary for the tender offer, approximately 12,413,103 shares, representing approximately 87.8 percent of AST's outstanding shares, were validly tendered and not withdrawn in the offer (including shares tendered by notice of guaranteed delivery). All such shares have been accepted for payment in accordance with the terms of the tender offer. Raytheon does not intend to offer a subsequent offering period in connection with the offer.