Lockheed Martin Corp. [fortune-stock symbol=”LMT”], the world’s biggest defense contractor, is about to get even bigger.
Reuters and Bloomberg reported late Sunday that the company is set to buy helicopter maker Sikorski from United Technologies Corp. [fortune-stock symbol=”UTX”] for around $8 billion, in a move that will add to its extensive portfolio of weaponry and military vehicles. Neither company confirmed the reports, ahead of an announcement expected Monday. Update: Lockheed confirmed a deal Monday worth $7.1 billion after “taking into account tax benefits resulting from the transaction.”
It will be Lockheed’s biggest acquisition since 1995, when it merged with Martin Marietta in a deal valued at $10 billion.
For United Technologies, it’s the end of a 70-year relationship with the helicopter pioneer, maker of the iconic Black Hawk choppers used by the U.S. military (read more about the strategy of new CEO Greg Hayes here). It’s also…
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