Home / M&A Activity / Reuters: Textron Interested in Merger With Sikorsky

Reuters: Textron Interested in Merger With Sikorsky

CH53KChopperUnited Technologies Corp.‘s (NYSE: UTX) Sikorsky Aircraft subsidiary received a merger offer from Textron (NYSE: TXT) earlier this month, Reuters reported Tuesday.

Reuters cites unnamed sources that say UTC is in the process of examining whether to spin off Sikorsky or merge the business with Textron through a tax-free transaction.

Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) have also emerged as potential acquirers of the helicopter manufacturer, according to the report.

A U.S. executive of Airbus Group told Reuters the company is keeping a close eye on UTC’s strategic options for Sikorsky.

UTC’s board of directors plans to hold a meeting this week to discuss a business review of Sikorsky, which is valued at approximately $8 billion, the report said.

Check Also

Jack Ginsburg Appointed Paradyme Management COO

Jack Ginsburg, a veteran business development leader, has been named chief operating officer at HUBZone information technology consulting services firm Paradyme Management, G2Xchange ETC reported Tuesday.

Boeing Gets $232M Material Support Order for Army Chinook, Apache Helicopters

Boeing (NYSE: BA) has received a potential $232M delivery order under a five-year basic ordering agreement with the Defense Logistics Agency to provide global material support for the U.S. Army's AH-64 Apache and CH-47 Chinook helicopters.