Harris Corporation and L3 Technologies Stockholders Approve Merger
04 Abril 2019 - 12:13PM
Business Wire
Harris Corporation (NYSE:HRS) and L3 Technologies, Inc.
(NYSE:LLL) announced that, at their respective special meetings of
stockholders held today, Harris and L3 stockholders voted to
approve all stockholder proposals necessary to complete the merger
of equals transaction to create L3 Harris Technologies, Inc., a
global defense technology leader that will be focused on developing
differentiated and mission critical solutions for customers around
the world.
The merger is expected to close in mid-calendar year 2019,
subject to satisfaction of customary closing conditions, including
receipt of regulatory approvals.
“I am pleased that our shareholders voted in favor of this
strategic combination, which will create a premier global defense
technology company,” said William M. Brown, Harris chairman,
president and chief executive officer. “Today’s vote clearly
supports our view that this merger will unlock additional growth
opportunities and generate value for our customers, employees and
shareholders.”
“This vote represents a key milestone in our merger process,”
added Christopher E. Kubasik, L3’s chairman, chief executive
officer and president. “Overall, integration planning is proceeding
well as we prepare to capture operational synergies and establish a
shared culture of innovation. The increased scale of L3 Harris will
allow us to deliver comprehensive mission-critical solutions to our
customers, while creating value for all of our stakeholders.”
The final results on the proposals voted on at the special
meetings will be set forth in the companies’ separate Form 8-Ks
filed with the SEC, which also will be available at l3t.com and
harris.com respectively, after certification by each company’s
inspector of elections.
About Harris Corporation
Harris Corporation is a leading technology innovator, solving
customers’ toughest mission-critical challenges by providing
solutions that connect, inform and protect. Harris supports
government and commercial customers in more than 100 countries and
has approximately $6 billion in annual revenue. The company is
organized into three business segments: Communication Systems,
Electronic Systems and Space and Intelligence Systems. Learn more
at harris.com.
About L3 Technologies
With headquarters in New York City and approximately 31,000
employees worldwide, L3 Technologies develops advanced defense
technologies and commercial solutions in pilot training, aviation
security, night vision and EO/IR, weapons, maritime systems and
space. L3 is organized into three business segments: Intelligence,
Surveillance and Reconnaissance Systems, Communications and
Networked Systems and Electronic Systems. The company reported 2018
sales of $10.2 billion. To learn more about L3, please visit the
company’s website at www.L3T.com.
Forward-Looking Statements
Certain of the matters discussed in this communication are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than
historical facts may be forward-looking statements; words such as
“may,” “will,” “should,” “likely,” “projects,” “financial
guidance,” “expects,” “anticipates,” “intends,” “plans,”
“believes,” “estimates,” and similar expressions are used to
identify forward-looking statements. L3 and Harris caution
investors that these statements are subject to risks and
uncertainties, many of which are difficult to predict and generally
beyond L3’s and Harris’ control, that could cause actual results to
differ materially from those expressed in, or implied or projected
by, the forward-looking information and statements. In addition to
factors previously disclosed in L3’s and Harris’ reports filed with
the SEC and those identified elsewhere in this communication, the
following factors, among others, could cause actual results to
differ materially from forward-looking statements or historical
performance: the occurrence of any event, change or other
circumstances that could give rise to the right of one or both of
L3 and Harris to terminate the definitive merger agreement between
L3 and Harris; the outcome of any legal proceedings that have been
or may be instituted against L3, Harris or their respective
directors; the ability to obtain regulatory approvals and satisfy
other closing conditions to the merger in a timely manner or at
all, including the risk that regulatory approvals required for the
merger are not obtained or are obtained subject to conditions that
are not anticipated; delay in closing the merger; difficulties and
delays in integrating the L3 and Harris businesses or fully
realizing anticipated cost savings and other benefits; business
disruptions from the proposed merger that may harm L3’s or Harris’
businesses, including current plans and operations; any
announcement relating to the proposed transaction could have
adverse effects on the ability of L3 or Harris to retain and hire
key personnel or maintain relationships with suppliers and
customers, including the U.S. government and other governments, or
on L3’s or Harris’ operating results and businesses generally; the
risk that the announcement of the proposed transaction could have
adverse effects on the market price of the common stock of either
or both of L3’s and Harris’ common stock and the uncertainty as to
the long-term value of the common stock of the combined company
following the merger; certain restrictions during the pendency of
the merger that may impact L3’s or Harris’ ability to pursue
certain business opportunities or strategic transactions; the
business, economic and political conditions in the markets in which
L3 and Harris operate; and events beyond L3’s and Harris’ control,
such as acts of terrorism.
These forward-looking statements speak only as of the date of
this communication or as of the date they were made, and neither L3
nor Harris undertakes any obligation to update forward-looking
statements. For a more detailed discussion of these factors, also
see the information under the captions “Cautionary Statement
Regarding Forward-Looking Statements” and “Risk Factors” in L3’s
and Harris’ Joint Proxy Statement/Prospectus that forms part of the
Registration Statement on Form S-4 filed by Harris and the captions
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in L3’s and Harris’
most recent reports on Form 10-K for the years ended December 31,
2018 and June 29, 2018, respectively, and any material updates to
these factors contained in any of L3’s and Harris’ subsequent and
future filings.
As for the forward-looking statements that relate to future
financial results and other projections, actual results will be
different due to the inherent uncertainties of estimates, forecasts
and projections and may be better or worse than projected and such
differences could be material. Annualized, pro forma, projected and
estimated numbers are used for illustrative purpose only, are not
forecasts and may not reflect actual results. Given these
uncertainties, you should not place any reliance on these
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190404005552/en/
Jim BurkeHarris
Corporationjim.burke@harris.com321-727-9131
Jennifer BartonL3
TechnologiesJennifer.Barton@L3T.com212-805-5356
L3 Technologies, Inc. (NYSE:LLL)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
L3 Technologies, Inc. (NYSE:LLL)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024