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  • Friday, April 26, 2024

L3, Harris Shareholders OK All-Stock Merger Deal; Christopher Kubasik, William Brown Quoted


Christopher Kubasik

Stockholders at L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) approved during their respective meetings Thursday the proposals needed to close the proposed merger of the companies.

“This vote represents a key milestone in our merger process,” Christopher Kubasik, L3 chairman, president and CEO, said in a statement published Thursday.

“Overall, integration planning is proceeding well as we prepare to capture operational synergies and establish a shared culture of innovation,” added Kubasik, a 2019 Wash100 winner.

William Brown

William Brown, chairman, president and CEO of Harris, said the shareholder vote supports the company’s view that the deal will help offer additional growth opportunities and bring value to employees, stockholders and clients.

Harris and L3 agreed to merge through an all-stock transaction in October to establish a global defense technology firm that will operate as L3 Harris Technologies.

The companies expect the transaction to conclude in mid-calendar year 2019, pending regulatory approvals and other customary closing conditions.

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