Deals
Harris, L3 to Form $33.5 Billion Giant as Weapons Spending Rises
- Merger comes as Boeing, United Technologies also bulk up
- ‘Most will view this deal as a turning point,’ analyst says
Source: Harris Corp.
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Harris Corp. and L3 Technologies Inc. aren’t exactly household names. A new deal could change that.
The defense contractors agreed to a merger that will form one of the industry’s largest players, a $33.5 billion behemoth to challenge weapons makers such as Raytheon Co. and Northrop Grumman Corp. With product lines spanning communications and electronics, the newly formed L3 Harris Technologies Inc. is poised to capitalize on military spending increases under U.S. President Donald Trump.