Harris Corp. (NYSE: HRS) is recently trading around $55, down from $65.78 last week. Harris said "that from time to time it is approached by other companies with expressions of interest in various types of transactions, including a potential sale of the company. Harris stated today that it is not pursuing a merger or a sale."
HRS June option implied volatility is at 42, July at 37, near its 26-week average of 37 according to Track Data, suggesting non-directional price risk.
M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
