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In what will be one of the largest mergers in defense electronics history, Harris Corp. and L3 Technologies have agreed to a transformational all-stock merger of equals. The resulting combined company, L3 Harris Technologies, will be the sixth largest U.S. defense contractor, with 48,000 employees worldwide and about $16 billion in annual revenues. With customers in more than 100 countries around the world, the new combined company—to be headquartered in Melbourne, Fla.—would be ranked about 180th on the latest Fortune 500 list of top worldwide companies. The two businesses are largely complementary, merging into a global defense technology leader with a...