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Wednesday, Oct 26, 2016

LM Receives Final Regulatory Approval Needed to Close Sikorsky Acquisition

  • Republic of China's approval marks end to successful and comprehensive regulatory review process

Lockheed Martin (NYSE:LMT) has received the final regulatory approval needed to close its acquisition of Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, from United Technologies Corp. The completion of the regulatory review by the Ministry of Commerce of the People’s Republic of China marks the end of a successful and comprehensive regulatory review process in eight jurisdictions.

“With this final regulatory approval, we are one step closer to completing this historic acquisition,” said Marillyn Hewson, Lockheed Martin chairman, president and CEO. “Sikorsky brings a legacy of innovation and performance that perfectly complements Lockheed Martin’s portfolio. We are excited to soon welcome the men and women of Sikorsky to our team.”

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Lockheed Martin anticipates closing the acquisition on Friday,

Once completed, the acquisition of Sikorsky Aircraft will advance Lockheed Martin’s commitment to provide its customers with mission-ready solutions that are affordable and efficient, while expanding its core business into the growing areas of helicopter production and sustainment.

Source : Lockheed Martin Corporation (NYSE: LMT) - view original press release

Published on ASDNews: Nov 3, 2015


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