The Crossroads of Special Operations

Thursday, May 6, 2021

L3Harris looks to shed as much as 10 percent of company | Defense News

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CEO Bill Brown of L3Harris Technologies has announced that the company may divest up to 10% following the decision to sell their airport security business. Leidos has signed a definitive agreement to purchase the security business and is expected to close mid-2020. The 8-10% of company revenue expected to be divested comes out to around $1.8 billion. Brown also commented on this in the past prior to the merge of L3 Technologies and Harris, stating there were plans to divest a significant piece of business within the first six months.

Source: https://www.defensenews.com/industry/2020/02/04/l3harris-looks-to-shed-as-much-as-10-percent-of-company/

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