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  • Wednesday, April 24, 2024

Wall Street Journal: UTC, Lockheed in Advanced Talks for Potential $8B Deal on Sikorsky


acquisitionUnited Technologies Corp. (NYSE: UTX) and Lockheed Martin (NYSE: LMT) are nearing a potential deal for the sale of UTC’s Sikorsky Aircraft business to Lockheed for at least $8 billion, the Wall Street Journal reported Friday.

Dana Mattioli, Ted Mann and Doug Cameron write that the proposed acquisition would be Lockheed’s largest in two decades since its $10 billion purchase of Martin Marietta Corp.

The report said a purchase of the military and commercial helicopter manufacturer could also provide Lockheed a “growth engine” amid budget cuts in the Pentagon and add capabilities in aircraft design and construction.

Sikorsky has approximately $40 billion worth of projects lined up, including its partnership with Lockheed to produce the next presidential and U.S. Air Force rescue helicopters, the report added.

Lockheed has previously been named among the final bidders for Sikorsky following UTC CEO Gregory Hayes‘ announcement of a potential spinoff or sale of the company.

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