8-KAcquisitions & DispositionsRegulation FDExhibits & Filings

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Acquisition Completed (Oct 28, 2005)

Filed October 28, 2005For Securities:LHX

Summary

This 8-K filing by Harris Corporation announces the definitive completion of its acquisition of Leitch Technology Corporation, a deal valued at approximately $450 million net of Leitch's cash on hand. The acquisition, which closed on October 25, 2005, was executed under an arrangement agreement and involved the purchase of all outstanding Leitch common shares for C$14.00 per share. Investors should note that the transaction was financed through a combination of Harris's issuance of $300 million in 5% Notes due 2015 and existing cash reserves. This strategic acquisition is expected to expand Harris Corporation's market presence and capabilities, though specific synergies or integration plans are not detailed in this particular filing. The accompanying press release, furnished under Regulation FD, provides further details on the transaction's closure.

Key Highlights

  • 1Harris Corporation completed its acquisition of Leitch Technology Corporation on October 25, 2005.
  • 2The total cash consideration paid by Harris for Leitch was approximately US$450 million, net of Leitch's cash.
  • 3Leitch shareholders received C$14.00 in cash for each common share of Leitch.
  • 4The acquisition was financed through the issuance of $300 million in 5% Notes due 2015 and cash on hand.
  • 5The transaction was conducted in accordance with an arrangement agreement dated August 31, 2005, as amended.
  • 6A press release detailing the acquisition completion was issued on October 25, 2005, and furnished as an exhibit.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce and confirm the completion of Harris Corporation's acquisition of Leitch Technology Corporation, which officially closed on October 25, 2005.

Harris Corporation paid approximately US$450 million in cash, net of Leitch's cash on hand, for the acquisition of Leitch Technology Corporation.

The acquisition was financed in part by Harris Corporation's issuance of $300 million in aggregate principal amount of its 5% Notes due 2015 on September 20, 2005, with the remainder financed by cash on hand.

Furnishing a press release under Item 7.01 means the information is being provided for transparency and compliance with Regulation FD (Fair Disclosure), but it is not considered 'filed' with the SEC in the same way as other report items. This means it generally does not subject the company to Section 18 liability under the Exchange Act and is not automatically incorporated into future SEC filings unless expressly stated.