Home / M&A Activity / Reuters: Lockheed, Textron Final Bidders for UTC’s Sikorsky Helicopter Arm

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.

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.