Air Force One is seen as a Black Hawk helicopter takes off at Bismarck Municipal Airport in North Dakota, June 13, 2014. REUTERS/Larry Downing
The Guardian: Weapons giant Lockheed Martin agrees to buy Black Hawk maker for $8bn
Lockheed to purchase Sikorsky Aircraft, US military’s largest helicopter supplier, in its biggest buy in two decades – which government will examine closely
Lockheed Martin, the largest US weapons maker, has agreed to buy United Technologies’ Sikorsky Aircraft unit, the maker of Black Hawk helicopters, for more than $8bn, a source familiar with the negotiations said on Sunday.
The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorised to speak publicly.
It will be Lockheed’s largest acquisition since it bought Martin Marietta for about $10bn two decades ago, and the first major strategic move for both United Tech chief executive Greg Hayes, who was elevated from finance chief in November, and Lockheed CEO Marillyn Hewson, who took her job in January 2013.
Officials at United Technologies and Lockheed declined comment.
WNU Editor: The consolidation of America's defense industry continues.
More News On Lockheed Martin Agreeing To Buy Black Hawk Maker Sikorsky
Lockheed to buy Sikorsky for $9 billion; reviews options for IT business -- Reuters
Lockheed Is Said to Buy Maker of Black Hawk Helicopter -- NYT
Lockheed Agrees to Buy United Tech’s Sikorsky Unit for $9 Billion -- WSJ
Lockheed Martin to buy Sikorsky Aircraft for $9B -- CBS/AP
Lockheed to buy helicopter maker Sikorsky for $9bn -- BBC
Lockheed Martin Said to Agree on Acquisition of Sikorsky -- Bloomberg
Lockheed Martin Announces Sikorsky Purchase And Strategic Review Of Services Portfolio -- Forbes
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