© roibul dreamstime.com Electronics Production | April 08, 2019
Harris and L3 Technologies stockholders approve merger
The stockholders of Harris Corporation and L3 Technologies approve all proposals necessary to complete the merger of equals transaction to create L3 Harris Technologies.
“I am pleased that our shareholders voted in favor of this strategic combination, which will create a premier global defense technology company,” says William M. Brown, Harris chairman, president and CEO, in a press release. “Today’s vote clearly supports our view that this merger will unlock additional growth opportunities and generate value for our customers, employees and shareholders.” “This vote represents a key milestone in our merger process,” adds Christopher E. Kubasik, L3’s chairman, chief executive officer and president. “Overall, integration planning is proceeding well as we prepare to capture operational synergies and establish a shared culture of innovation. The increased scale of L3 Harris will allow us to deliver comprehensive mission-critical solutions to our customers, while creating value for all of our stakeholders.” The merger is expected to close in mid-calendar year 2019, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals.