Author: Jane Edwards|| Date Published: October 5, 2016
Harris Corp. (NYSE: HRS) has put some parts of its critical networks division up for sale in a transaction that could be worth more than $1 billion, Reuters reported Tuesday.
Mike Stone and Michael Flaherty write the potential divestiture includes Harris™ information technology services operation and comes a month after the Melbourne, Florida-based communications technology maker named two mutually agreed independent directors to the board of directors as part of a cooperation agreement signed with New York City-based activist hedge fund Jana Partners in August.
Stone and Flaherty also report the Harris CapRock business that offers communications services to the energy sector could also be divested in a separate deal that could be worth at least $500 million.
A potential sale of CapRock would help the parent company reduce its debt and keep its energy sector exposure low.
Shares in Harris closed down 24 cents to $91.26 Tuesday and have climbed 7.21 percent since the agreement with Barry Rosenstein’s Jana fund was announced Aug. 2.
The Space Development Agency has awarded $3.5 billion in other transaction authority agreements to Lockheed Martin, L3Harris Technologies, Northrop Grumman…
The Defense Health Agency has awarded TriWest Healthcare Alliance $6.8 billion to continue providing healthcare and administrative services in support…
HawkEye 360, provider of space-based signals intelligence, has acquired Innovative Signal Analysis, a Dallas, Texas-based company manufacturing high-performance signal-processing technologies.…
Harris Corp. (NYSE: HRS) has put some parts of its critical networks division up for sale in a transaction that could be worth more than $1 billion, Reuters reported Tuesday.
