Harris has entered into an agreement to acquire all of the shares of Leitch Technology. Total price consideration will be approximately $450 million.
Harris expects the transaction to be neutral to fiscal year 2006 earnings per share, excluding acquisition-related charges.
The acquisition is to be completed by way of a statutory plan of arrangement and is subject to approval by Leitch shareholders, customary regulatory and court approvals, and other closing conditions. The transaction is expected to close in approximately 60 days.
For more information, visit www.harris.com.