{"id":75058,"date":"2015-02-07T00:09:56","date_gmt":"2015-02-06T16:09:56","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/harris-buys-exelis-for-4-75-billion\/"},"modified":"2015-02-07T00:09:56","modified_gmt":"2015-02-06T16:09:56","slug":"harris-buys-exelis-for-4-75-billion","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/harris-buys-exelis-for-4-75-billion\/","title":{"rendered":"Harris Buys Exelis for $4.75 Billion"},"content":{"rendered":"<\/p>\n<p>[Via Satellite 02-06-2015] <b>Harris <\/b>is purchasing <b>Exelis <\/b>for $4.75 billion in an acquisition expected to close by June 2015. Both boards of directors unanimously approved the acquisition, and Harris has secured $3.4 billion from <b>Morgan Stanley Senior Funding<\/b> for fully committed bridge financing. The company anticipates permanent financing in the form of term loans and unsecured bonds prior to closing.<\/p>\n<p>According to Harris, the pre-tax cost synergies with Exelis range from $100 million to as high as $120 million. The company anticipates the purchase will be slightly accretive in the first full year, evolving into a significant contributor in the years following. Harris expects to achieve annual run-rate by year three.<\/p>\n<p>\u201cOur 2014 was another strong year, and we expect to report revenue of approximately $3.25 billion and adjusted operating margin between 12.4 and 12.5 percent, which is in line with our previous guidance,\u201d said David F. Melcher, president and CEO of Exelis.<\/p>\n<p>Exelis ended 2014 with $2.8 billion in its backlog.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[Via Satellite 02-06-2015] Harris is purchasing Exelis for $4.75 billion in an acquisition expected to close by June 2015. Both boards of directors unanimously approved the acquisition, and Harris has secured $3.4 billion from Morgan Stanley Senior Funding for fully committed bridge financing. The company anticipates permanent financing in the form of term loans and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75059,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-75058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/75058"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=75058"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/75058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/75059"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=75058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=75058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=75058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}