Hello, Guest!
  • Sunday, December 22, 2024

L3, Harris Target June 29 Closing Date for All-Stock Merger; Christopher Kubasik Quoted


Christopher Kubasik

Harris (NYSE: HRS) and L3 Technologies (NYSE: LLL) set June 29, Saturday, as the closing date for their all-stock merger deal after they secured the regulatory clearances needed to complete the transaction.

The combined company will operate as L3Harris Technologies and use the ticker symbol œLHX once it starts trading on the New York Stock Exchange, the firms said in a joint statement published Friday.

œToday™s announcement positions us to close the merger and establish L3Harris as an agile aerospace and defense technology innovator that delivers value for all of our stakeholders, said Christopher Kubasik, L3 chairman, president and CEO and a 2019 Wash100 winner.

The proposed merger received the Department of Justice™s antitrust approval, which comes with a proposed settlement that orders the divestiture to a U.S. approved-buyer of Harris’ night vision business. Harris entered into an agreement with Elbit Systems of America (Nasdaq: ESLT) in April to sell the business for approximately $350M.

Video of the Day

Related Articles

L3Harris Posts Strong Revenue Growth in Q4 & Full Year 2023; Christopher Kubasik Highlights $33B Backlog Financial Reports

L3Harris Posts Strong Revenue Growth in Q4 & Full Year 2023; Christopher Kubasik Highlights $33B Backlog

L3Harris Technologies (NYSE: LHX) reported double-digit revenue growth in the fourth quarter and full-year 2023 and gave financial guidance for 2024, including revenue growth, free cash flow and dividend payout. “We delivered on our 2023 financial commitments and reported record backlog of $33 billion,” Christopher Kubasik, chair and CEO of L3Harris, said in a statement

Christopher Kubasik: L3Harris to Put Off M&A Program for ‘Foreseeable Future’ M&A Activity

Christopher Kubasik: L3Harris to Put Off M&A Program for ‘Foreseeable Future’

Christopher Kubasik, chair and CEO of L3Harris Technologies (NYSE: LHX), said the company plans to discontinue its merger and acquisition activity for the “foreseeable future” to strengthen its balance sheet and return all excess capital to shareholders. At the company’s investor day on Tuesday, Kubasik stated that the Melbourne, Florida-based aerospace and defense contractor will

Boeing Defense Chief Ted Colbert to Chair AIA Board of Governors Executive Moves

Boeing Defense Chief Ted Colbert to Chair AIA Board of Governors

Ted Colbert, president and CEO of Boeing’s (NYSE: BA) defense, space and security business, has been elected to serve as chair of the Aerospace Industries Association’s board of governors for 2024. Colbert, who also serves as an executive vice president at Boeing, succeeds Tom Gentile as chairman and will serve on the association’s executive committee