From today's Wall Street Journal:
Harris Corp. on Friday said it agreed to buy Exelis Inc. for about $4.4 billion in a move that could trigger further consolidation among midtier U.S. defense contractors.
Exelis has about $8 billion in sales. L-3 has about $10 billion. It may be that L-3 is going through a period of putting on lipstick and a party dress.