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  • Thursday, November 21, 2024

L3, Harris Shareholders OK All-Stock Merger Deal; Christopher Kubasik, William Brown Quoted


Christopher Kubasik

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

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.

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