Harris Corp, L3 Technologies Announce $35 Billion All Stock Merger of Equals, Largest Ever in Defense Industry

October 14, 2018

S&C represents Harris Corporation in its agreement with L3 Technologies, Inc. to combine in an all stock merger of equals. The deal—the largest-ever defense industry merger—creates a global defense technology leader with a combined market value of approximately $35 billion and approximately 48,000 employees. The combined company, L3 Harris Technologies, Inc., will be the sixth largest among U.S. defense contractors and among the top 10 globally. 

The S&C team on the transaction was led by Keith Pagnani and Scott Crofton, along with Bradley King, Emily Lichtenheld and Thomas Gallagher. Davis Wang and David Simins advised on tax matters; Matthew Friestedt and Regina Readling, along with Amanda Toy, advised on executive compensation and benefits matters; Ari Blaut and Jennifer Lee advised on financing matters; Mehdi Ansari and RuiHui Yu advised on intellectual property matters; Matthew Brennan advised on environmental matters; Eric Kadel advised on regulatory matters; and Robert Downes advised on securities matters.