Texas Instruments Inc has decided that the defense electronics game is no longer worth the candle. And rather than participate in the restructuring of the business by buying other people’s operations, it plans to auction its own interests, which it reckons are worth over $2.0bn. McDonnell Douglas Corp is one of the interested buyers, the Wall Street Journal reckons. The holdings include manufacture of missile sensors and seekers, advanced aircraft radars, and night vision systems. The defense holdings generated $1.74bn business last year. Other bidders are said to include Raytheon Co, Northrop Grumman Corp and Hughes Electronics Corp.
