Harris Corp., L3 Technologies to Merge to Create Mega Defense Contractor

MELBOURNE, Fla. & NEW YORK–(Harris Corporation/L3 PR) –Harris Corporation (NYSE:HRS) and L3 Technologies, Inc. (NYSE:LLL) have agreed to combine in an all stock merger of equals to create a global defense technology leader, focused on developing differentiated and mission critical solutions for customers around the world.

Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, L3 shareholders will receive a fixed exchange ratio of 1.30 shares of Harris common stock for each share of L3 common stock, consistent with the 60-trading day average exchange ratio of the two companies.

Upon completion of the merger, Harris shareholders will own approximately 54 percent and L3 shareholders will own approximately 46 percent of the combined company on a fully diluted basis.

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ULA Selects L3 Technologies for Vulcan Centaur Avionics

Artist’s conception of Vulcan rocket. (Credit; ULA)

Centennial, Colo., Dec. 4, 2017 (ULA PR)– L3 Technologies announced today that it has entered into an agreement with United Launch Alliance (ULA) to become the exclusive provider of avionics and related services for its new Vulcan Centaur rocket system, delivering an estimated $1 billion-plus in mission-critical systems and services, over a 10-year period.

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