Hello, Guest!
  • Thursday, April 25, 2024

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.

Video of the Day

Related Articles

Report: ULA Gets Buyout Bids From Blue Origin, Cerberus M&A Activity

Report: ULA Gets Buyout Bids From Blue Origin, Cerberus

Jeff Bezos-owned space company Blue Origin and private equity firm Cerberus have made bids for United Launch Alliance, a joint venture of Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT), The Wall Street Journal reported Thursday. Some people familiar with the matter said ULA has also drawn interest from aerospace and defense contractor Textron (NYSE:

Executive Mosaic Introduces Industry’s First-Ever GovCon Index & Names Top 30 Publicly Traded Companies News

Executive Mosaic Introduces Industry’s First-Ever GovCon Index & Names Top 30 Publicly Traded Companies

Executive Mosaic, the industry-leading events, media and executive branding organization in the government contracting sector, is pleased to launch the first-ever GovCon stock market tracker, GovCon Index. GovCon Index is an aggregate index meticulously crafted and tracked in real-time using data from 30 leading publicly traded companies within the GovCon industry. This first-of-its-kind index provides unparalleled

Report: BAE in Negotiations for Potential Ball Aerospace Unit Acquisition M&A Activity

Report: BAE in Negotiations for Potential Ball Aerospace Unit Acquisition

BAE Systems is in discussions with Westminster, Colorado-based Ball Corp. (NYSE: BALL) to purchase the latter’s aerospace division in a potential deal worth more than $5 billion. If an agreement is reached, the British defense contractor would take over the business that manufactures instruments and sensors for military, aerospace and national security applications. The division