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Lockhard Martin Buying Sikorsky Air
Rickey StokesViewed: 3048
Posted by: RStokes
Date: Jul 20 2015 10:20 AM
Lockheed Martin said today it is purchasing military and commercial rotary-wing aircraft company Sikorsky Air for $9 billion in cash.
The global security and aerospace firm, which has operations in Huntsville and Troy, said the $9 billion price tag will dip to $7.1 billion because of tax benefits from the acquisition.
Subject to regulatory approvals, the transaction is on schedule to close late this year or in the first quarter of 2016, the company added. Marillyn Hewson, chairman, president and CEO of Lockheed, said Sikorsky is a "natural fit" for the business.
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