Home / M&A Activity / Wall Street Journal: UTC, Lockheed in Advanced Talks for Potential $8B Deal on Sikorsky

Wall Street Journal: UTC, Lockheed in Advanced Talks for Potential $8B Deal on Sikorsky

acquisitionUnited Technologies Corp. (NYSE: UTX) and Lockheed Martin (NYSE: LMT) are nearing a potential deal for the sale of UTC’s Sikorsky Aircraft business to Lockheed for at least $8 billion, the Wall Street Journal reported Friday.

Dana Mattioli, Ted Mann and Doug Cameron write that the proposed acquisition would be Lockheed’s largest in two decades since its $10 billion purchase of Martin Marietta Corp.

The report said a purchase of the military and commercial helicopter manufacturer could also provide Lockheed a “growth engine” amid budget cuts in the Pentagon and add capabilities in aircraft design and construction.

Sikorsky has approximately $40 billion worth of projects lined up, including its partnership with Lockheed to produce the next presidential and U.S. Air Force rescue helicopters, the report added.

Lockheed has previously been named among the final bidders for Sikorsky following UTC CEO Gregory Hayes‘ announcement of a potential spinoff or sale of the company.

Check Also

Tricia Fitzmaurice Takes Nat’l Security Program Director Role at Red Hat

Red Hat has promoted Tricia Fitzmaurice, who has more than two decades of government and commercial technology sales experience, as director of national security programs for the federal law enforcement and justice sector, Homeland Security Today reported Tuesday.

Johns Hopkins APL Books Potential $2B Follow-On IDIQ for NASA Aerospace R&D, Engineering Services

Johns Hopkins University Applied Physics Laboratory has received a potential 10-year, $2B contract to help NASA  develop technology concepts and analyze data for robotic space missions. The Aerospace, Research, Development and Engineering Support Services II contract has a minimum ordering value of $50M and a maximum ordering value $1B over the five-year base period. ARDES II would reach its potential value if the five-year option period is exercised.