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World Defense & Security Industry News - Lockheed Martin & Sikorsky
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| Lockheed Martin about to buy Sikorsky Aircraft in a $8 bn deal | |||
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The US company Lockheed Martin Corp. is to buy United Technologies Corp.’s Sikorsky Aircraft for more than $8 billion, Reuters, relying on sources involved in the deal, reported yesterday, July 19, 2015. Reuters said the agreement would be announced this Monday morning, according to the source, who was not authorized to speak publicly.
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Textron Inc. had submitted a bid for Sikorsky, but dropped out of the bidding after the price rose, according to several sources familiar with the matter, Reuters said.
Last week, Pentagon officials said they would carefully evaluate any sale of Sikorsky Aircraft, the U.S. military’s largest helicopter supplier, Reuters reported. They said it was important to the department to “maintain competition and avoid market distortions." It will be Lockheed's largest acquisition since it bought Martin Marietta Corp for about $10 billion two decades ago, and the first major strategic move for both United Tech Chief Executive Officer Greg Hayes, who was elevated to CEO from finance chief in November, and Lockheed CEO Marillyn Hewson, who took over her job in January 2013. Sikorsky Aircraft Corporation is a world leader in the design, manufacture and service of military and commercial helicopters. Sikorsky's helicopters are used by all five branches of the United States armed forces, along with military services and commercial operators in 40 nations. |
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