AEROSPACE

Litton Industries to Buy Sperry Marine: Litton, a Woodland Hills-based defense electronics concern, said it agreed to acquire the company in a transaction valued at $160 million. Sperry Marine, located in Charlottesville, Va., makes electronic navigation and guidance systems for ships and planes; it had 1995 sales of about $145 million. Litton said it will issue about 2 million shares of its stock to Sperry Marine’s owner--an investor group led by former Navy Secretary John F. Lehman--and assume $52 million of the company’s debt. Litton Chairman John M. Leonis termed Sperry Marine “highly complementary to our existing base” of navigation and guidance technology.