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May 9, 1994

HARRIS REJECT ACQUISITION TARGETS IN DEFENCE INDUSTRY

By CBR Staff Writer

Harris Corp chief executive John Hartley told Reuter his company has rejected several prospective acquisition targets in the defence industry after management decided that the asking prices were simply too high: We continue to look at opportunities in that area but we do not feel compelled to make any acquisition as a survival strategy, he said – he declined comment on whether Harris has had discussions with Martin Marietta Corp, which is looking for its own big acquisition, and refused to name the one-time potential acquisition targets that Harris had rejected.

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