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L-1 Identity Solutions [ID] recently said that a United States oversight group has approved its acquisition by France's Safran Group with the deal expected to close within five business days.
L-1 last September said that it had agreed to sell its identity solutions business to Safran for about $1.1 billion and its intelligence services business to Britain's BAE Systems for about $300 million. The transaction with BAE closed in February.
L-1 initially expected the deal with Safran to be approved during the first quarter of 2011 but had to refile the proposed transaction numerous times to allow the Committee on Foreign Investment in the United States (CFIUS) to …