Harris Corporation (NYSE:HRS) and L3 Technologies, Inc. (NYSE:LLL) each of the companies report that, at their respective special meetings of stockholders held Thursday, Harris and L3 stockholders voted to approve all stockholder proposals necessary to complete the merger of equals transaction to create L3 Harris Technologies, Inc.
The merger is expected to close in mid-calendar year 2019, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals. Harris, a global defense technology leader, will be focused on developing differentiated and mission critical solutions for customers around the world.
William M. Brown, Harris chairman, president and chief executive officer said that he is pleased that their shareholders voted in favor of this strategic combination, which will create a premier global defense technology company. Today’s vote clearly supports their view that this merger will unlock additional growth opportunities and generate value for their customers, employees and shareholders.
Christopher E. Kubasik, L3’s chairman, chief executive officer and president added that this vote represents a key milestone in their merger process. Overall, integration planning is proceeding well as they 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.