Deals
Harris Corp. and L3 Technologies Are Close to a Merger Deal, WSJ Says
- Combined company would have a market value of $33.5 billion
- Goal is to complete all-stock deal as early as this weekend
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Harris Corp. and L3 Technologies Inc. are close to a merger that would give rise to a defense contractor with a market value of $33.5 billion, the Wall Street Journal reported, citing people familiar with the matter.
Negotiations were at an advanced stage as of Friday with the goal of completing an all-stock deal as early as this weekend, the Journal said. While exact terms weren’t available, Harris and L3 are expected to market the transaction as a merger of equals, the newspaper said. It’s possible the talks could fall through before an agreement is reached.