Home / M&A Activity / Lockheed Says Sikorsky Buy to Close Friday After China Clears Deal, All Regulatory Approvals Complete

Lockheed Says Sikorsky Buy to Close Friday After China Clears Deal, All Regulatory Approvals Complete

lockheed martinChina’s commerce ministry has cleared Lockheed Martin‘s (NYSE: LMT) estimated $9 billion purchase of the helicopter manufacturer Sikorsky Aircraft to mark the final regulatory approval required for the deal.

Lockheed announced the review’s completion Tuesday and said it expects the transaction to close Nov. 6.

The company needed approval from eight jurisdictions to move forward with the transaction.

United Technologies Corp. (NYSE: UTX) will use some proceeds from its sale of Sikorsky to Lockheed for a $12 billion share repurchase program.

Check Also

HHS Seeks Proposals for $347M Follow-On Credential, Access Mgmt Support Contract

The Department of Health and Human Services has issued a solicitation for a potential five-year, …

General Dynamics Gets $125M Contract Modification for US, Foreign Military Bomb Components

A General Dynamics (NYSE: GD) business unit has received a $125M contract modification from the …