ALLIED-SIGNAL &lt;ALD> TO SELL ELECTRONICS UNIT

  Allied-Signal Inc said it
  agreed to sell its Amphenol Products unit to a subsidiary of
  LPL Investments Group &lt;LPLI>, a Wallingford, Conn., investment
  company, for 430 mln dlrs cash.
      Closing is expected soon, pending appropriate approvals,
  the company said. LPL indicated that at closing, warrants will
  be sold which, when exercised, will reduce its stake in the
  subsidiary, Amphenol Acquisition Co, to 60 pct, the company
  said.
      Lisle, Ill.-based Amphenol had 1986 sales of about 500 mln
  dlrs. It makes brand name interconnection products.
      LPL also said Merrill Lynch and Co has committed to buy 175
  mln dlrs of subordinated and preferred debt in the new LPL
  unit, according to Allied-Signal. Canadian Imperial Bank of
  Commerce has committed up to 340 mln dlrs in senior debt
  financing, it said.
      Allied-Signal said in December it was offering for sale
  Amphenol and six other operating units in its electronics and
  instrumentation sector.
      Merrill Lynch, Needham and Co and Lazard Freres served as
  financial advisors, it said.
  

