:

Business/Financial

Approval In Hand, Harris To Complete Acquisition Of L3 On June 29

By Cal Biesecker

Friday, June 21st, 2019

SHARE:

Approval In Hand, Harris To Complete Acquisition Of L3 On June 29

Harris Corp. Chairman, President and CEO William Brown. Photo: Harris

Harris Corp. [HRS] and L3 Technologies [LLL] on Friday said their merger into L3Harrris Technologies will close June 29, following Justice Department approval of the deal last week. The companies first announced the deal in October 2018, saying it would create a $16 billion aerospace and defense company giving it scale to be more cost competitive and with a more comprehensive portfolio to expand its end-to-end capabilities, while remaining a platform-agnostic supplier and integrator. Harris shareholders will own 54 percent…

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]

Congress

CBO Estimates Loss of One-Half to Two-Thirds of U.S. Missile Interceptors Since June Last Year

A new Congressional Budget Office report estimates the cost of the Iran war through Aug. 1 as $38 billion and says that the U.S. has likely depleted between one-half and […]