Ellen Lord, undersecretary for acquisition and sustainment at the Defense Department, has said DoD is working with antitrust regulators to find out if the proposed merger of L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) would have an impact on the œcompetitive landscape, Reuters reported Wednesday.
œWe™re working through the process. We look at deals based on the individual merits, she told Reuters at a NATO industry conference.
L3 and Harris agreed in October to merge through an all-stock deal to establish the country™s sixth largest defense technology contractor.
Lord said she has œno fundamental concerns when asked if the Harris-L3 combination would result in greater consolidation in the defense industry.
