Pentagon official: 'No fundamental concern' over defense consolidation [Reuters]
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Source: Reuters
Pentagon official: 'No fundamental concern' over defense consolidation | Reuters 3 Min Read BERLIN, Nov 13 (Reuters) - The U.S. government is still reviewing a merger of Harris Corp and L3 Technologies , a top Pentagon official said on Tuesday, adding that she had no fundamental concerns about further consolidation in the U.S. defense sector. Undersecretary Ellen Lord told Reuters that the Defense Department was carrying out a detailed process together with antitrust authorities to determine if the proposed merger would “be problematical in terms of the competitive landscape.” “We’re working through the process. We look at deals based on the individual merits,” Lord said on the sidelines of a NATO industry conference. She said the chief executives of both companies had contacted her about their plans “very professionally” before announcing the deal. Harris and L3, maker of military communications equipment and other weapons, on Oct. 14 said they planned an all-stock merger that will c
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