Harris wins EU approval for L3 Tech deal subject to sale of night vision business [Reuters]
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Source: Reuters
Harris wins EU approval for L3 Tech deal subject to sale of night vision business BRUSSELS (Reuters) - Military communication equipment provider Harris Corp has won European Union approval for the acquisition of L3 Technologies Inc, on the condition that Harris sells its night vision global business, the EU Commission said on Friday. The all-stock merger will create the sixth-largest United States defense contractor, with a market value of $34 billion at the time it was announced in October 2018. The EU antitrust regulator found that the merger would have reduced competition in the European markets for image intensification night vision devices and image intensification tubes. Harris offered to sell its night vision business before completing the deal, and the Commission accepted the remedy, Brussels said in a statement. The two U.S. companies supply intelligence, surveillance and reconnaissance, communications and electronic systems for military, security forces and commercial custom
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