June 2, 2008 / 4:03 AM / 10 years ago

Harris says it is not for sale, not seeking merger

WASHINGTON, June 2 (Reuters) - U.S. defense communications and information technology company Harris Corp (HRS.N), breaking its silence after weeks of speculation, said on Monday the company is not for sale and is not pursuing a merger.

“Harris is not pursuing any transaction. We’re not for sale,” Chairman, President and Chief Executive Howard Lance told Reuters in a telephone interview.

He said Harris did not initiate a process to sell itself, despite media reports and market speculation that it was looking for buyers.

Lance said he and the board of directors had great confidence in the future of the company, which has doubled its size in recent years and seen its share price quadruple in the past five years.

He said the company expected continued growth through introduction of new products, expanded international sales and strategic acquisitions. (Reporting by Andrea Shalal-Esa; Editing by Kim Coghill)

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