OSI and L-3 Drop Talks for Former PerkinElmer Business

Hawthorne, CA- OSI announced that L-3 Communications has discontinued negotiations over OSI’s proposed acquisition of certain detection businesses that L-3 purchased from PerkinElmer earlier this year. OSI stated that the negotiations were stalled due to issues regarding intellectual property, product line definitions, allocation of employees and OSI’s right to conduct due diligence. OSI also commented that L-3 is pursing a declaratory judgment from a federal district court stating in effect that L-3 fulfilled its obligations and that OSI is not entitled to any components of its Detection Business. OSI states that it is considering all of its legal and other options.

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