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Short Take: Raytheon to sell semiconductor business to Fairchild

Raytheon Company has signed an agreement to sell its semiconductor business to Fairchild Semiconductor, a supplier of high-performance semiconductors for the telecommunications, personal computer, consumer, industrial, and automotive markets, for approximately $120 million in cash. Raytheon's semiconductor business provides silicon-based semiconductor products, and had revenues of approximately $70 million in 1996.

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has signed an agreement to sell its semiconductor business to Fairchild Semiconductor, a supplier of high-performance semiconductors for the telecommunications, personal computer, consumer, industrial, and automotive markets, for approximately $120 million in cash. Raytheon's semiconductor business provides silicon-based semiconductor products, and had revenues of approximately $70 million in 1996.