Tracor to Sell Units: Tracor Inc., an...

Tracor to Sell Units: Tracor Inc., an Austin, Tex.-based defense electronics company owned by Westmark Systems Inc., said it will sell its instruments and aviation systems units as part of a restructuring plan approved by its debt holders. No sale price was disclosed. Proceeds will be used to reduce the company’s outstanding debt of $747 million. Merrill Lynch Capital Markets will manage the sale. Much of the debt was incurred when Westmark, a holding company, acquired Tracor in a leveraged buyout in October, 1987. If the divestiture is completed, Tracor will be left with the components group.