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L3, Morpho Detection, Reveal Imaging Get TSA Explosive Detection System Production IDIQs

The Department of Homeland Security’s Transportation Security Administration has awarded three separate sole-source, indefinite-delivery/indefinite-quantity contracts to L3 Technologies (NYSE: LLL), Morpho Detection and Reveal Imaging Technologies to produce and install explosive detection systems. A FedBizOpps notice posted Tuesday says L3 will manufacture eXaminer 6700 Medium Speed EDS under a five-year, …

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Mark Schmaltz, Michael Maughan, Kenneth Lowe Named to VP Roles at Cubic’s Defense Business

Cubic‘s (NYSE: CUB) defense business has named three executives to vice president roles to oversee digital product innovation, growth efforts and revenue streams. Mark Schmaltz, a business and program management executive, has joined Cubic as VP and general manager of the newly created synthetic and digital solutions business line, the …

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

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. …

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Harris, L3 Set April 4 Shareholder Vote on All-Stock Merger Deal

L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) will each hold a shareholder meeting on April 4 to decide on proposals needed to finalize the companies’ proposed merger through an all-stock transaction. Shareholders of record as of Feb. 22 will vote at the companies’ respective meetings, Harris and L3 said Monday. L3 …

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PwC: Aerospace, Defense Sector Recorded $57.8B in 2018 M&A Deal Value

A new PwC report says the value of mergers and acquisitions in the aerospace and defense sector worldwide reached $57.8B in 2018, reflecting a 19 percent drop from the previous year. Despite the decline, PwC said the deal value in 2018 was 83 percent higher than the 10-year average and the third largest in …

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Navy Picks 19 Firms for $12.6B CMMARS Aircraft Maintenance, Logistics Contract Vehicle

The U.S. Navy has awarded 19 companies spots on a potential seven-year, $12.6B contract vehicle for aircraft maintenance and logistics support services. The Contracted Maintenance, Modification, Aircrew and Related Services program covers logistical support for Navy and Air Force rotary-wing and fixed-wing aircraft, unmanned aerial vehicles, subsystems and related weapon …

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Harris Refiles Antitrust Notification for L3 Merger Deal

Harris (NYSE: HRS) has withdrawn and refiled a notification required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with regard to its proposed merger with L3 Technologies (NYSE: LLL). Harris resubmitted the notification Tuesday and the waiting period for the notice under the antitrust law is set to expire on Jan. 10, …

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Ellen Lord: DoD Continues to Evaluate Proposed L3-Harris Merger

Ellen Lord, undersecretary for acquisition and sustainment at the Defense Department, has said DoD is working with antitrust regulators to find out if the proposed merger of L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) would have an impact on the “competitive landscape,” Reuters reported Wednesday. “We’re working through the process. We …

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Harris, L3 to Merge in All-Stock Transaction; Christopher Kubasik, William Brown Quoted

L3 Technologies (NYSE: LLL) and Harris (NYSE: HRS) have agreed to merge in an all-stock deal that will establish the country’s sixth largest defense technology company serving government and industry clients across more than 100 countries. The combined company will operate as L3 Harris Technologies in Melbourne, Fla., upon the deal’s …

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