Christopher Kubasik, president and chief operating officer of L3Harris Technologies and a 2020 Wash100 Award winner, told the Washington Business Journal in an interview published Wednesday that the company will continue post-merger integration and advance organic growth initiatives and revenue synergies as it begins its second year of operations.
Read More »DOJ Issues Asset Divestiture Requirement for CPI-General Dynamics Satcom Tech Deal
The Department of Justice is requiring Communications & Power Industries to sell its ASC Signal Division subsidiary and related assets in order for CPI to advance its acquisition of General Dynamics’ (NYSE: GD) antenna systems business.
Read More »Proposed UTC-Raytheon Merger Gets DOJ Antitrust Clearance With Divestiture Requirement
The Department of Justice has given United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) an antitrust approval to proceed with their proposed merger through an all-stock transaction, Reuters reported Friday. A DOJ notice posted Thursday says the approval comes with a proposed settlement that requires both companies to divest to a U.S. approved-buyer Raytheon’s airborne tactical radios business and UTC’s military GPS business and its large space-based optical systems unit to maintain competition.
Read More »European Commission OKs UTC-Raytheon Merger
The European Commission approved United Technologies Corp.’s (NYSE: UTX) planned $121B merger with Raytheon (NYSE: RTN), Reuters reported Friday.
Read More »Corporate Dev’t Execs Say M&A Opportunities Could Emerge From Business Unit Divestitures
Executives from Leidos (NYSE: LDOS), ManTech International (Nasdaq: MANT), Parsons (NYSE: PSN) and Jacobs Engineering Group (NYSE: JEC) said they believe divestitures of smaller business units resulting from major mergers and acquisitions in the past two years could drive the next wave of M&As in the government contracting market, the Washington Business Journal reported Wednesday.
Read More »L3, Harris Target June 29 Closing Date for All-Stock Merger; Christopher Kubasik Quoted
Harris (NYSE: HRS) and L3 Technologies (NYSE: LLL) set June 29, Saturday, as the closing date for their all-stock merger deal after they secured the regulatory clearances needed to complete the transaction.
Read More »McAleese & Associates: L3, Harris to Spend 4% of Combined Sales on Independent R&D
A McAleese & Associates report says the merged company of L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) would invest 4 percent of $18B combined revenue in independent research-and-development efforts.
Read More »Triumph Group Refocuses Investment Strategy After Machining, Fabrication Business Divestitures
Arlington Capital Partners and NWI Holdings have respectively finalized their acquisitions of the fabrication and machining businesses from Triumph Group. Triumph Group said Monday it will refocus investment efforts on intellectual property systems and proprietary technology products designed for aftermarket and original equipment manufacturing clients. The deals include divestitures of …
Read More »Baird’s Jean Stack: 2018 a Transformational Year for GovCon
Several top government contractors and industry experts attended Baird’s 2018 Government Services and Defense Conference. “2018 has been a transformational year of M&A at scale in the government services and defense market,” Jean Stack, managing director for global investment banking at Baird, told GovConWire. Stack added that she expects 2019 to …
Read More »Valiant Closes $135M Purchase of Cubic’s Global Defense Services Business; Bradley Feldmann Comments
Valiant Integrated Services has wrapped up its approximately $135 million cash acquisition of Cubic’s (NYSE: CUB) global defense services business. Bradley Feldmann, Cubic chairman, president and CEO, said in a statement published Friday the completion of the divestiture is a significant step for the company as it works to achieve and bring …
Read More »