S&C Advises Harris Corp. in $350 million sale of Harris Night VisionApril 5, 2019
Harris Corporation, a U.S. defense contractor and technology company, announced on April 5 that it has reached a definitive agreement to sell its Night Vision business to Elbit Systems of America, LLC for $350 million. The sale of the Night Vision business has been sought by Harris as part of the regulatory process following the company's announcement in 2018 that it would combine with L3 Technologies, Inc. in a $35 billion merger of equals, the largest-ever defense industry merger.
“With the signing of the agreement to divest the Night Vision business, and yesterday's approval by shareholders of the L3 Harris merger, we have achieved two significant milestones towards completing the transformational merger in mid-calendar 2019,” said Harris chairman William M. Brown in the April 5 announcement.
The S&C team was once again led by corporate partners Keith Pagnani and Scott Crofton, with tax partner Davis Wang and intellectual property partner Mehdi Ansari. S&C partner Matthew Friestedt is advising on executive compensation matters; Eric Kadel is providing regulatory advice; Robert Schlein is advising on real estate issues; Joseph Matelis is advising on U.S. antitrust issues; and Michael Rosenthal is advising on European competition matters.