Harris Technology Center in Palm Bay, Florida. Photo: Harris

Harris and L3 Technologies on Sunday morning revealed a blockbuster deal that would create the sixth largest U.S. defense contractor with about $16 billion in sales and a market capitalization of $33.5 billion, with Harris shareholders owning 54 percent of the business and L3’s the rest.

The company’s said that the merger will provide L3 Harris Technologies with the scale to access growth opportunities that neither L3 nor Harris could pursue independently.

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