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ARTICLES

Harris completes acquisition of Exelis

Harris Corp. completed its previously announced acquisition of Exelis Inc. Each outstanding share of Exelis common stock converted into the right to receive $16.625 in cash and 0.1025 of a share of Harris common stock. Harris shareholders own 85 percent of the combined company and Exelis shareholders own 15 percent.


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Harris Corp. to acquire Exelis

Harris Corp. and Exelis, Inc. announced a definitive agreement under which Harris will acquire Exelis in a cash and stock transaction valued at $23.75 per share, or an approximately $4.75 billion enterprise value. The agreement has been unanimously approved by the boards of directors of both companies. The transaction is expected to close in June 2015 and is subject to customary closing conditions, including regulatory and Exelis shareholder approval.


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