L3Harris said Monday it expects the transaction to conclude in the first half of 2024, subject to regulatory approvals and other customary closing conditions.
“Today’s announcement is consistent with our multi-year strategy to optimize our national security, technology-focused portfolio,” said L3Harris Chair and CEO Christopher Kubasik.
Kubasik, a three-time Wash100 awardee, said L3Harris intends to repay debt using the proceeds from the deal, which includes the sale of the company’s surveillance joint venture.
The CAS business of L3Harris has approximately 1,450 employees and provides avionics, flight data analytics, pilot training and advanced air mobility products and services.
Morgan Stanley & Co. and Moelis & Co. advise L3Harris on the transaction’s financial aspect, while Sullivan & Cromwell serves as the defense contractor’s legal adviser.
J.P. Morgan Securities and Kirkland & Ellis respectively serve as financial adviser and legal counsel to TJC in the deal.
Antenna Research Associates has appointed Jay Abendroth, a seasoned defense electronics executive, as chief growth officer to lead business development…
Precise Systems has appointed Michael “Mike” Risik as vice president of business development. The Lexington Park, Maryland-based company said Wednesday Risik will…
Aerospace and defense technology company Merlin has closed its business combination with Inflection Point Acquisition Corp. IV, a special purpose acquisition company…
Raytheon, an RTX business, has received a potential $212.1 million cost-plus-fixed-fee contract to provide operations and maintenance services for a relocatable over-the-horizon…
