Harris, L3 Ink Merger Deal

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Pentagon Military Defense DoD

Defense technology providers Harris Corporation and L3 Technologies announced yesterday they will combine in a stock-swap merger of equals that will leave Harris shareholders owning a 54 percent equity stake in the combined company, which will be called L3 Harris Technologies. The resulting company will rank as the sixth largest U.S. defense contractor with 48,000 employees and annual revenue of about $16 billion.

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