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Viasat stock soars after $2 billion deal to sell Link 16 TDL business to reduce debt, boost liquidity

Viasat stock soars after $2 billion deal to sell Link 16 TDL business to reduce debt, boost liquidity

Shares of Viasat Inc. soared 40.9% in morning trading Monday toward a 5 1/2-month high, after the communications company announced an agreement to sell its Link 16 Tactical Data Links (TDL) business to L3Harris Technologies Inc in a deal valued at $1.96 billion. Viasat expects the deal to results in cash proceeds of $1.8 billion, after taxes, fees and other expenses, which the communications company expects to use to reduce debt and boost liquidity. Viasat's stock started soaring after a trading