What is the main purpose of this 8-K filing?

This 8-K filing serves as an update on the status of the antitrust review for L3Harris Technologies' (formerly Harris Corporation) pending acquisition of Exelis Inc. It specifically announces that the company has received a 'second request' from the U.S. Department of Justice (DOJ).

What does a 'second request' from the DOJ mean for the Exelis merger?

A 'second request' from the DOJ indicates that the antitrust review is moving into a more in-depth phase. It means the DOJ requires additional information and documentary material from both Harris and Exelis to assess the competitive impact of the merger. This request automatically extends the waiting period under the Hart-Scott-Rodino (HSR) Act.

Will this 'second request' delay the closing of the Exelis acquisition?

While the 'second request' does extend the HSR Act waiting period, L3Harris Technologies stated in this filing that it continues to expect the merger to close in June 2015, subject to customary closing conditions and regulatory approvals. The company is not signaling a definitive delay beyond their initial June 2015 expectation at this time.

What are the next steps for the Exelis merger after this filing?

The next steps involve L3Harris Technologies and Exelis providing the requested information and documentation to the DOJ. The companies will then await the outcome of the DOJ's enhanced antitrust review. The merger's completion remains contingent on receiving the necessary antitrust clearance and satisfying other standard closing conditions.

LHX 8-K SEC Disclosure — Apr 23, 2015

Summary

L3Harris Technologies, Inc. (formerly Harris Corporation) filed this 8-K on April 23, 2015, to provide an update on the antitrust review process for its pending acquisition of Exelis Inc. The company disclosed that both Harris and Exelis received a 'second request' from the U.S. Department of Justice (DOJ) on April 23, 2015. This request signifies a more in-depth review of the proposed merger under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), which will extend the statutory waiting period. Despite the extended review period initiated by the DOJ's second request, L3Harris Technologies reiterated its expectation that the merger will still close in June 2015, contingent upon satisfying all customary closing conditions. Investors should monitor any further updates regarding regulatory approvals and the final closing date, as the second request indicates a more thorough examination of the transaction's competitive implications.

Key Highlights

1L3Harris Technologies (then Harris Corporation) is acquiring Exelis Inc.
2The company received a 'second request' for information from the Department of Justice (DOJ) regarding the Exelis acquisition.
3The 'second request' is part of the Hart-Scott-Rodino (HSR) Act antitrust review process.
4The DOJ's 'second request' extends the waiting period for the merger's completion.
5Despite the extended review, the company still expects the merger to close in June 2015.
6The closing remains subject to customary conditions and regulatory approvals.

L3HARRIS TECHNOLOGIES, INC. /DE/ 8-K Report, Corporate Update (Apr 23, 2015)

Summary

Key Highlights

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