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  • Friday, April 19, 2024

Report: UTC in Talks With Potential Sikorsky Buyers


UTClogoUnited Technologies Corp. (NYSE: UTX) has begun discussions with other companies about a potential sale of UTC’s Sikorsky Aircraft subsidiary, the Wall Street Journal reported Tuesday.

Citing several sources, Dana Mattioli and Ted Mann write that Airbus Group, Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) are considering making offers for the helicopter manufacturing business.

“As previously announced, UTC is exploring strategic alternatives for Sikorsky, which could include a sale or spinoff, ” John Moran, a UTC spokesperson, told WSJ.

Moran added the business review is expected to complete by midyear.

Sources told the newspaper that UTC could also spin off Sikorsky into a joint venture through a tax-free Reverse Morris Trust transaction.

Sikorsky also manufactures aircraft engines, elevators and air-conditioning units and reported $7.5 billion in sales during 2014.

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