Lockheed Martin it would buy Sikorsky Aircraft for $9 billion
July 20, 2015
Lockheed Martin Corp said Monday it would buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp, for $9 billion, and would review the possible sale or spinoff of $6 billion in other information technology and services businesses. The Pentagon’s largest supplier said the net cost of the Sikorsky deal was around $7.1 billion, taking into account tax benefits resulting from the transaction. Lockheed also reported higher earnings and revenue for the second quarter.
“Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies” Lockheed Chief Executive Marillyn Hewson said in a statement.