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M&A Activity

L3Harris Technologies Unveils Four ‘Mission-Focused’ Business Segments

L3Harris Technologies (NYSE: LHX), the new company formed by the merger of defense contractors Harris and L3 Technologies, has organized its operations into four business segments with the goal to help government and commercial customers address mission requirements. Melbourne, Fla.-based L3Harris said Monday it expects to generate $17B in annual revenue through its operating businesses that will offer a range of technology platforms in the air, sea, land, space and cyber areas.

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IBM-Red Hat Merger Receives EU Approval

IBM (NYSE: IBM) has secured unconditional approval from the European Commission for its proposed acquisition of Red Hat (NYSE: RHT) for $34B cash, nearly two months after the U.S. Department of Justice cleared the transaction. The commission said Thursday the merger, which both companies first announced in October 2018, would not put market competition at risk.

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AECOM Board OKs Management Services Group Spinoff Plan

The board of directors at AECOM has approved the company’s plan to separate its management services business as a new publicly traded company that will primarily serve national government clients. AECOM said Monday it expects to complete the spinoff in the second half of its 2020 fiscal year and retain John Vollmer, the segment’s president and a 2019 Wash100 winner,  along with the current management team in the leadership of the future independent company.

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Peraton to Buy Solers in National Security Space Tech Portfolio Push; Stu Shea Quoted

Peraton has agreed to acquire Arlington, Va.-based information technology and satellite ground systems provider Solers for an undisclosed sum to further build up its capability to deliver space protection and resiliency platforms in support of national security programs.

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Raytheon-UTC Deal Comes as DoD Eyes New Priorities; Pierre Chao Offers Insight on M&A Trend

The planned merger between Raytheon (NYSE: RTN) and United Technologies Corp. (NYSE: UTX) comes as the aerospace-and-defense sector anticipates slower growth in the Department of Defense’s spending and as DoD sets its sights on hypersonic missiles, space systems and other new priorities, The Wall Street Journal reported Wednesday.

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