The US government has approved the $9 billion sale of Sikorsky Aircraft from United Technologies Corp to Lockheed Martin.
“In a filing with the US Securities and Exchange Commission, Authorities in Japan and South Korea had also approved the deal, but it was waiting for other regulatory approvals,” Reuters quoted Lockheed Martin as saying in a statement Thursday.
Lockheed Martin had entered into a definitive agreement to acquire Sikorsky Aircraft for $9.0 billion in July this year.
If the Sikorsky deal is approved, Lockheed has said it plans to fold the company into its Mission Systems & Training (MST) operation, creating a division with about $15 billion in annual revenues.
The services businesses it plans to keep will also become part of MST.
Sikorsky will be Lockheed's largest acquisition since it bought Loral Corp's defense electronics business for $9.1 billion in 1996, and merged with Martin Marietta in 1994 in a $10 billion deal.
Lockheed Martin, Textron are major contenders to have offered to buy Sikorsky Aircraft. The Stratford-based helicopter manufacturer could be valued at $8 billion and the decision for the sell-out is likely by the end of this month
Sikorsky Aircraft announced Friday that it has delivered six CH-148 Cyclone helicopters to the Canadian government during an acceptance celebration. The six helicopters represent the first of 28 Cyclone aircraft that Sikorsky will deliver to the Canadian Armed Forces to perform a full range of anti-submarine and anti-surface warfare, search and rescue, and utility missions in various environments
Sikorsky Aircraft has won a $38.8 million contract from the US department of Defense for procuring critical parts and associated support for two CH-53K system demonstration test article aircraft
Boeing has said it would take a close look at the proposed merger of Honeywell and United Technologies. “Healthy competition in our supply chain is vitally important to Boeing and our commercial and military customers,” the company said in a statement
Lockheed Martin anticipates closing the acquisition on Friday, Nov 6. Lockheed Martin has received the final regulatory approval needed to close its acquisition of Sikorsky Aircraft
Sikorsky Aircraft Corp today has achieved first flight of the US Marine Corps' CH-53K King Stallion heavy lift helicopter protoype, known as Engineering Development Model-1 (EDM-1). The 30-minute flight indicates the beginning of a 2,000-hour flight test program using four test aircraft, the company announced Tuesday
Apprehending hindrances to competition and innovation, the US department of defense has emphasized on opposing future deals similar to Lockheed Martins acquisition of Sikorsky. Pentagon procurement Chief Frank Kendall was quoted as saying by Reuters Wednesday that the Defense Department would not dispute Lockheeds $9 billion agreement to purchase Sikorsky, but said “it still gives rise to significant policy concerns
The US Air Force has cleared the design review of Lockheed Martins Space Fence System that includes large-scale digital radar and turn-key facility. The Space Fence S-band radar system design will detect, track, and catalog orbital objects in space more than 1
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