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Leidos To Buy L3Harris' Security Detection & Automation Businesses For $1 Bln

Leidos Holdings Inc. (LDOS) agreed to acquire L3Harris Technologies' (LHX) Security Detection and Automation businesses, for $1 billion in cash.

Leidos expects to fund the $1 billion cash transaction through a combination of cash on hand and incremental debt. It expects to close the deal by the end of the second quarter of 2020.

Leidos expects that the transaction will be immediately accretive to its revenue growth, EBITDA margins, and non-GAAP earnings per share upon closing.

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