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Harris and L3 to Divest Harris’s Night Vision Business

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#1 Eddgie

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Posted 19 August 2019 - 07:20 PM

Clearly the US Government has a vested interest in not seeing Harris and L3 merge the image intensifier business:

 

 

Justice Department Requires Harris and L3 to Divest Harris’s Night Vision Business

 

The Department of Justice announced today that it is requiring Harris Corporation (Harris) and L3 Technologies Inc. (L3) to divest Harris’s night vision business in order to proceed with their merger.

 

The Department further said that, without the divestiture, the proposed acquisition would eliminate competition between the only two suppliers of U.S. military-grade image intensifier tubes, which are the key component in night vision devices such as goggles and weapon sights purchased by the Department of Defense (DoD) for the United States military.

 

I was surprised when I read about the merger, but not surprised at all about this decision.

 

Now, if I can just find someone that will sell me an F9800 M24H.   


Edited by Eddgie, 19 August 2019 - 07:21 PM.

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#2 TOMDEY

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Posted 19 August 2019 - 08:39 PM

Yeeep! I worked on that stuff and it was a blast! The very best is indeed --- ohh so comfortable and top-shelf! For an amateur astronomer like me... seeing tubs of those, crusin thru final inspection ---  must be like working at Fort Knox, for someone who happens to like gold...  Tom

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#3 Clutch5150

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Posted 22 August 2019 - 10:30 AM

Perhaps you have overlooked the fact that this is old news, Harris already sold to Ebit

 

https://www.harris.c...ts-night-vision

 

Harris Corporation (NYSE:HRS) and Elbit Systems Ltd. (NASDAQ:ESLT) today announced the signing of a definitive agreement under which Elbit Systems of America, LLC (ESA) will acquire Harris’ Night Vision business for $350 million in cash. The transaction is conditioned on completion of Harris’ previously announced proposed merger with L3 Technologies, Inc. (NYSE:LLL), as well as customary closing conditions including receipt of regulatory approvals.

 

“In January 2019, we announced that as part of the L3 merger regulatory process we had proactively started exploring the sale of our Night Vision business,” said William M. Brown, chairman, president and chief executive officer. “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.”


Edited by Clutch5150, 22 August 2019 - 12:10 PM.

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