October 13, 2018 / 6:23 PM / 10 days ago

Harris, L3 Technologies nearing agreement to merge -source

Oct 13 (Reuters) - Defense communications and electronics companies Harris Corp and L3 Technologies are nearing a deal for an all-stock merger, a person familiar with the matter said on Saturday.

A deal, expected to be a merger of equals, could be announced by Monday, the person said. The companies have a combined market value of about $33.5 billion.

Harris, based in Florida, makes communications and electronics for battlefields, weather reporting and air traffic control. L3, based in New York, makes communications and electronics for the military, aviation, homeland security and others.

Neither Harris, nor L3, responded to requests for comment. The potential deal was first reported by the Wall Street Journal. (Reporting by Gregory Roumeliotis in New York and Timothy Gardner in Washington Editing by Leslie Adler)

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