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  • Friday, April 19, 2024

Reuters: Lockheed, Textron Final Bidders for UTC’s Sikorsky Helicopter Arm


Helicopter RadarUnited Technologies (NYSE: UTX) is mulling offers from Lockheed Martin (NYSE: LMT) and Textron (NYSE: TXT) to purchase UTC’s Sikorsky Aircraft subsidiary, Reuters reported Wednesday.

Andrea Shalal and Mike Stone write UTC may reach a decision on the offers by the end of the month or could decide instead on a tax-free spinoff of Sikorsky to shareholders.

Reuters reports Textron, the parent company of Bell Helicopter and Cessna, has asked private equity firms to help in a cash offer for Sikorsky.

Gregory Hayes, UTC CEO,  said in June that the company expects to either sell or spinoff Sikorsky by the end of the parent company’s third fiscal quarter.

Sikorsky recorded approximately $8 billion in fiscal year 2014 revenue.

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