Griffon sells Telephonics defense business to TTM Technologies for $330M cash

GRIFFON CORP

Sale price of $330M in cash; expected close in Q2 2022 subject to regulatory approvals.
Griffon CEO says transaction strengthens balance sheet and allows focus on core businesses.
Lazard and Dechert LLP advised Griffon; J.P. Morgan and O'Melveny & Myers advised TTM.
Telephonics is a provider of defense electronics for U.S. and allied military.

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