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

Lockheed-Raytheon JV Secures $186M Contract to Produce Javelin Weapon Systems for US Military

A partnership between Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN) has landed a potential four-year, $185.6M contract to manufacture man-portable anti-tank weapon systems for the U.S. Army, Navy and Marine Corps.

Michael Ames Promoted to VP Role at Leidos

Leidos (NYSE: LDOS) has promoted Michael Ames, a three-decade information technology services industry veteran, from a division director position to serve as a vice president at the company, FedHealthIT reported Thursday.