![]() The company has ~ 7,000 employees in Florida, and has made significant investments in new, state-of-the-art facilities in Melbourne. Harris is already a well-established and important member of the Central Florida community, with a 65+ year legacy here.Why did you choose Melbourne to be the headquarters for the combined company? The combination is also expected to generate approximately $500 million of annual pre- tax, gross cost synergies, or $300 million in pre-tax synergies net of customer flow through in year three after closing, which will drive margins up approximately 200 bps on a pro forma basis and generate savings for customers.It also accelerates both companies’ strategies to deliver innovative mission solutions across a broad range of markets and customers while also providing an enhanced platform for long-term growth. The combined company will be competitively stronger with much greater scale, market presence and international channels.This merger represents an excellent strategic fit for both companies and occurs amid an environment of strong company performance and increasing and well-funded defense budgets.Why did the two companies decide to merge? The combined company will have a seasoned leadership team with extensive industry experience and a proven track record.For the 3rd year, Bill Brown will transition to executive chairman and Chris Kubasik to chief executive officer, after which Chris Kubasik will become chairman and chief executive officer. Bill Brown will serve as chairman and chief executive officer, and Chris Kubasik will serve as vice chairman, president and chief operating officer for the first two years following the closing of the transaction. ![]() 元 has primary facilities in Texas, Alabama, Brazil, Canada, Australia, India, Korea, U.K.Harris has primary facilities in Florida, New York, Virginia/D.C., and Colorado.Upon closing, the new company will be headquartered in Melbourne, Florida.Where will the combined company be headquartered/have locations? What will the size be of the combined company? The transaction is expected to close by mid-2019, subject to customary closing conditions and approval by shareholders from both companies.When do you expect the transaction to close? The combined company will be called 元 Harris Technologies, with pro forma annual sales of approximately $16B and 48,000 employees worldwide.Harris Corporation and 元 Technologies announced a merger of equals, the biggest merger in defense industry history, that will create the 6th largest U.S.Harris and 元 Announce Merger of Equals Commission File No. 1-3863 Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: 元 Technologies, Inc. Filed by: Harris Corporation Commission File No.
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