The proxy for this aerospace and defense company had three proposals related to a possible merger with Harris Corporation.
- Adopt the Agreement and Plan of Merger
- Approve (on a non-binding basis) executive compensation connected to the merger
- Approve the adjournment of the special meeting
Magni voted for all proposals on the proxy. L3 Technologies is being acquired in a deal for equity. Per McKinsey and Bain studies, valuation risk tends to be more concentrated on the acquirer instead of the one being acquired (i.e., the buyer is at more risk of overpaying than the seller is at risk of asking too little).