WSJ: Boeing Execs Want Company to Keep ULA JV Ownership Stake

Air Force photo
Air Force photo

According to a Wall Street Journal report published Thursday, executives at Boeing (NYSE: BA) want the company to retain its ownership stake in the United Launch Alliance joint venture co-owned with Lockheed Martin (NYSE: LMT).

Doug Cameron and Andy Pasztor write Lockheed’s executives want to negotiate a sale of ULA to to the parent company of Aerojet Rocketdyne, which has put forth a $2 billion cash offer for the joint venture.

The Journal first reported the details of Aerojet Rocketdyne’s bid for ULA Wednesday.

Executives at Lockheed believe a sale of the company’s stake in ULA would continue larger efforts to restructure the aerospace and defense contractor’s portfolio, according to the Journal.

Boeing told the Journal it considers ULA one of the “important and strategic elements in our portfolio” and the company remains “committed” to the joint venture.

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