Harris Corp. buys Leitch Technology; Leitch announces first quarter results

TORONTO – Harris Corporation is buying Leitch Technology Corporation for approximately $592 million Canadian. Harris and Leitch have entered into an arrangement agreement whereby Harris would acquire all of the outstanding common shares of Leitch for a cash price of $14 per share. The 20-day volume weighted average price for Leitch shares on the Toronto Stock Exchange is $9.72. Toronto-based Leitch has been manufacturing broadcasting equipment for more than 30 years. Harris Corporation, of Melbourne, Fla., is an international communications and information technology company. “The combination of Leitch Technology with Harris will create a powerful force in the broadcast technology...