Melbourne, Fla.-based Harris has been the subject of increasing speculation in recent weeks after reports surfaced that defense suitors including General Dynamics Corp. and Northrop Grumman Corp. were considering offers for the company. Harris, which makes products used in a range of defense and broadcasting applications, was previously silent on the reports.
But in a statement released early Monday, company chairman and CEO Howard L. Lance said Harris is not in buyout discussions.
Analysts have suggested that U.S. firms might pursue Harris in hopes of keeping it out of the hands of a foreign rival. European defense companies, spurred on by the cheap dollar and eager to grow in the U.S. market, are on the prowl for midtier U.S. companies. See the
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Lou Whiteman
