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Weapons giant Lockheed Martin agrees to buy Black Hawk maker for $8bn
Source: Reuters
Weapons giant Lockheed Martin agrees to buy Black Hawk maker for $8bn
Reuters in Washington
Sunday 19 July 2015 20.11 BST
Lockheed Martin, the largest US weapons maker, has agreed to buy United Technologies’ Sikorsky Aircraft unit, the maker of Black Hawk helicopters, for more than $8bn, a source familiar with the negotiations said on Sunday.
The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorised to speak publicly.
It will be Lockheed’s largest acquisition since it bought Martin Marietta for about $10bn two decades ago, and the first major strategic move for both United Tech chief executive Greg Hayes, who was elevated from finance chief in November, and Lockheed CEO Marillyn Hewson, who took her job in January 2013.
Officials at United Technologies and Lockheed declined comment.
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Reuters in Washington
Sunday 19 July 2015 20.11 BST
Lockheed Martin, the largest US weapons maker, has agreed to buy United Technologies’ Sikorsky Aircraft unit, the maker of Black Hawk helicopters, for more than $8bn, a source familiar with the negotiations said on Sunday.
The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorised to speak publicly.
It will be Lockheed’s largest acquisition since it bought Martin Marietta for about $10bn two decades ago, and the first major strategic move for both United Tech chief executive Greg Hayes, who was elevated from finance chief in November, and Lockheed CEO Marillyn Hewson, who took her job in January 2013.
Officials at United Technologies and Lockheed declined comment.
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Read more: http://www.theguardian.com/us-news/2015/jul/19/lockheed-martin-sikorsky-black-hawk-helicopter-us-military
