STRICTLY CONFIDENTIAL
WLR&K DRAFT: 9/19/97
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):
September 10, 1997
RAYTHEON COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-2833 04-1760395
(State of Incorporation) (Commission File (IRS Employer
Number) Identification
Number)
141 Spring Street
Lexington, Massachusetts 02173
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(781)862-
6600<PAGE>
ITEM 5. OTHER EVENTS
On September 10, 1997, the Registrant ("Raytheon")
completed the sale of the home appliance, heating and air
conditioning, and commercial cooking segments (the "Acquired
Business") of the Raytheon Appliance Group (the "Appliance
Group") to Goodman Manufacturing Company, L.P. ("Goodman") for
aggregate consideration of $550 million, in cash, subject to
adjustment for certain changes in the net working capital of
the Acquired Business between December 31, 1996 and the closing
date of the transaction. In addition, Raytheon has realized
approximately $200 million from the sale of Appliance Group
receivables. Raytheon will retain the commercial laundry and
electronic controls segments of the Appliance Group.
In connection with closing the transaction, Raytheon
issued a press release on September 10, 1997, a copy of which
is attached hereto as Exhibit 99.1 and is specifically
incorporated herein by reference.<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS
(c) The following exhibits are filed as part of
this report:
99.1 Press release, dated September 10, 1997.<PAGE>
SIGNATURE
Pursuant to the requirements of Section 12 of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: September 23, 1997
RAYTHEON COMPANY
By __________________________
Thomas D. Hyde
Vice President and
General Counsel<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
99.1 Press release, dated September 10, 1997.<PAGE>
SIGNATURE
Pursuant to the requirements of Section 12 of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: September , 1997
RAYTHEON COMPANY
By __________________________
Christoph L. Hoffmann
Executive Vice President and
Secretary
STRICTLY CONFIDENTIAL
WLR&K DRAFT: 9/19/97
RAYTHEON
Exhibit 99.1
News Release
FOR IMMEDIATE RELEASE
CONTACTS:
Robert S. McWade Barry H. French
C-2401 9/10/97 (617) 860-2173
(617) 860-2846
http://www.raytheon.com
RAYTHEON CLOSES APPLIANCE GROUP SALE
LEXINGTON, Mass., (September 10, 1997) -- Raytheon Company
announced today that it has completed the sale of segments of
the Raytheon Appliance Group to Goodman Manufacturing Company,
L.P. of Houston, Texas.
Raytheon announced on July 14th that it would realize a total
value of $750 million from Appliance Group transactions. This
consists of $550 million in cash from Goodman for the sale of
the home appliance, heating and air conditioning, and
commercial cooking segments of the Raytheon Appliance Group, as
well as $200 million from the sale of Appliance Group
receivables.
Raytheon has retained the commercial laundry and electronic
controls segments of the Raytheon Appliance Group. Raytheon is
a market leader in commercial laundry. In 1996, these two
segments combined accounted for approximately 20 percent of
revenues and 50 percent of profits for the Raytheon Appliance
Group. Raytheon is continuing its strategic evaluation of
these two businesses.
Raytheon Company, headquartered in Lexington, Mass., is a $14.0
billion global technology leader which operates in four
business areas: commercial and defense electronics,
engineering and construction, aircraft and appliances.
Raytheon celebrates its 75th anniversary this year.
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