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Business/Financial

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

By Cal Biesecker

Friday, June 21st, 2019

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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…

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

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Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

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Senate Authorization Bill Restricts Building Navy Warships Overseas With Limited Exception For Auxiliaries

The Senate Armed Services Committee’s (SASC) version of the FY 2027 defense policy bill looks to cut the ability for the Trump administration to buy foreign-made warships, but still allow […]