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Harris Deal For Exelis Expected To Close Friday

Harris Deal For Exelis Expected To Close Friday
AIA President and CEO Dave Melcher

Harris Corp.’s [HRS] $5 billion acquisition of Exelis Inc. [XLS] is expected to close May 29, now that regulators and Exelis shareholders have given the go-ahead, Exelis said on Friday.Exelis said that the Justice Department on Thursday terminated the waiting period for the merger under the Hart-Scott-Rodino Antitrust Act and in a special meeting on Friday more than 97 percent of the shares voted were in favor of the sale. The regulatory and shareholder approvals were the final two conditions…

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