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IPFS News Link • Military Industrial Complex

There's an $8 billion defense contractor mega-deal reportedly in the works

• http://www.businessinsider.com, Reuters

The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorized to speak publicly.

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.

Officials at United Technologies and Lockheed declined comment.

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.

Pentagon officials last week said they would carefully evaluate any sale of Sikorsky Aircraft, the U.S. military's largest helicopter supplier, and it was important to the department to maintain competition and avoid market distortions.


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