Harris Corp. [HRS] and L3 Technologies
[LLL] said on Monday that their respective shareholders will meet in special meeting on April 4 to consider and vote on the proposed merger of the two companies into a $16 billion defense and federal technology company.
Both meetings will begin at 10 a.m. Eastern Time, with L3’s shareholders meeting in New York and Harris’ in Florida.
The merger, which has Harris shareholders holding 54 percent of the combined company, remains on track for a mid-2019 close, both companies said.
In addition to shareholder approvals, the deal requires regulatory approval. Harris President and CEO William Brown said in January that his company is exploring the sale of its night vision systems business to help get the acquisition approved by regulators.
Night vision equipment is one of the few areas where the two companies have competing products.
If the deal concludes, L3 Harris Technologies, as the combined entity will be called, will have Brown as the chairman and CEO for two years. After that time, Christopher Kubasik, who leads L3, will become CEO and eventually chairman and CEO.