Jet maker Lockheed Martin to buy Sikorsky for $9bn
July 21 , 2015
Lockheed Martin, the fighter jet manufacturer, is buying helicopter maker Sikorsky for $9 billion. This will be Lockheed’s biggest purchase in two decades. The deal will come at a net cost of $7.1 billion to Lockheed as the remaining would be covered in tax benefits.
Sikorsky manufactures the Black Hawk helicopter. Its owner, United Technologies, had stated its intention to sell the firm last month. Lockheed’s last major purchase on this scale was of Martin Marietta in 1995.