Home / M&A Activity / William Brown: Harris Closes ‘Transformative’ $4.75B Buy of Exelis

William Brown: Harris Closes ‘Transformative’ $4.75B Buy of Exelis

FalconRadioHarris Corp. (NYSE: HRS) has closed its $4.75 billion cash-and-stock acquisition of Exelis nearly three months after the companies announced the transaction, which sees Harris shareholders own 85 percent and Exelis shareholders hold 15 percent in the combined company.

“The Exelis acquisition is transformative… and marks a major milestone in Harris’ 120-year history, ” Harris CEO William Brown said Friday.

Harris — the Melbourne, Fla.-based radio maker — said in a subsequent filing with the Securities and Exchange Commission that McLean, Va.-based Exelis will operate as a subsidiary of Harris.

Exelis shareholders approved the deal May 22, a day after the Justice Department gave antitrust clearance for the transaction.

Check Also

NGA Deputy Director Stacey Dixon Receives 2020 Wash100 Award From Jim Garrettson, CEO of Executive Mosaic

Jim Garrettson, found and CEO of Executive Mosaic, presented Dr. Stacey Dixon, deputy director of the National Geospatial-Intelligence Agency (NGA), her first Wash100 Award as a part of the 2020 selection on Wednesday

Teresa Carlson, AWS Worldwide Public Sector VP, Named to 2020 Wash100 for Cloud Innovation, Business Expansion and New Educational Platforms

Executive Mosaic is honored to present Teresa Carlson, vice president of the worldwide public sector business at Amazon Web Services, as an inductee into the 2020 edition of the Wash100 Award for driving cloud innovation, expanding AWS' influence and advocating for cloud computing education within Virginia schools.