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Title    Harris Corp. and L3 Technologies Plan to Merge and Become the Sixth Largest U.S. Defense Contractor
Date    Monday October 15 2018, @03:21PM
Author    martyb
Topic   
from the getting-bigger dept.
https://soylentnews.org/article.pl?sid=18/10/15/1050213

takyon writes:

Defense giants Harris, L3 Technologies to merge

Harris Corp. and L3 Technologies Inc. on Sunday announced plans to combine in the largest-ever defense merger, reacting to Pentagon efforts to get companies to boost investment and speed the development of weapons.

The enlarged company would have annual sales of around $16 billion this year and 48,000 staff, ranking sixth among U.S. defense contractors by revenue as the industry enjoys a bump in Pentagon spending after five years of budget cuts.

The deal, first reported by The Wall Street Journal on Saturday, would unite two companies with a combined market value of about $33.5 billion.

Also at Bloomberg, Reuters, and The Washington Post.

See also: Schumer: Rochester won't lose jobs as a result of Harris Corp. merger


Original Submission

Links

  1. "takyon" - https://soylentnews.org/~takyon/
  2. "Defense giants Harris, L3 Technologies to merge" - https://www.marketwatch.com/story/defense-giants-harris-l3-technologies-to-merge-2018-10-14
  3. "Bloomberg" - https://www.bloomberg.com/news/articles/2018-10-14/harris-l3-defense-contractors-are-said-to-be-close-to-merger
  4. "Reuters" - https://www.reuters.com/article/us-m-a-defense-harris-l3/harris-and-l3-agree-merger-to-become-sixth-largest-u-s-defense-contractor-idUSKCN1MO0PV
  5. "The Washington Post" - https://www.washingtonpost.com/business/2018/10/14/l-harris-agree-merge-creating-billion-military-technology-giant/
  6. "Schumer: Rochester won't lose jobs as a result of Harris Corp. merger" - https://www.democratandchronicle.com/story/news/2018/10/14/harris-corp-merger-l-3-technologies-chuck-schumer-rochester-jobs/1643046002/
  7. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=29566

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