• Sunday, April 2, 2023

Ellen Lord: DoD Continues to Evaluate Proposed L3-Harris Merger


Ellen Lord

Ellen Lord, undersecretary for acquisition and sustainment at the Defense Department, has said DoD is working with antitrust regulators to find out if the proposed merger of L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) would have an impact on the “competitive landscape,” Reuters reported Wednesday.

“We’re working through the process. We look at deals based on the individual merits,” she told Reuters at a NATO industry conference.

L3 and Harris agreed in October to merge through an all-stock deal to establish the country’s sixth largest defense technology contractor.

Lord said she has “no fundamental concerns” when asked if the Harris-L3 combination would result in greater consolidation in the defense industry.

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