ALLIED-SIGNAL <ALD> TO SELL ELECTRONICS UNIT Allied-Signal Inc said it agreed to sell its Amphenol Products unit to a subsidiary of LPL Investments Group <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.