Stockholders at L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) approved during their respective meetings Thursday the proposals needed to close the proposed merger of the companies.
œThis vote represents a key milestone in our merger process, Christopher Kubasik, L3 chairman, president and CEO, said in a statement published Thursday.
œOverall, integration planning is proceeding well as we prepare to capture operational synergies and establish a shared culture of innovation, added Kubasik, a 2019 Wash100 winner.
William Brown, chairman, president and CEO of Harris, said the shareholder vote supports the company™s view that the deal will help offer additional growth opportunities and bring value to employees, stockholders and clients.
Harris and L3 agreed to merge through an all-stock transaction in October to establish a global defense technology firm that will operate as L3 Harris Technologies.
The companies expect the transaction to conclude in mid-calendar year 2019, pending regulatory approvals and other customary closing conditions.
