Exelis Approves Spinoff Of Vectrus; Distribution Set For End Of September

Exelis’ (XLS) board of directors recently approved the spinoff of its mission systems business, Vectrus and rumor is that Exelis’s parent company, ITT (ITT), is excited about becoming a grandparent despite the rather creative name choice. The spinoff will take place on September 27th to shareholders as of September 18th and the new company will trade on the NYSE under the ticker… Read More »