Lockheed's Sikorsky acquisition imminent
Lockheed Martin has received the final regulatory approval required to close its acquisition of Sikorsky Aircraft from United Technologies, Lockheed Martin announced on 3 November.
The final approval came from China, with the Ministry of Commerce conducting its regulatory review of the deal.
Lockheed Martin and SIkorsky were required to gain approval for the acqusition from all countries in which they operate or do business; China is a significant market for Sikorsky, with over 100 of its helicopters operating in the country.
With the acquisition, Lockheed Martin will enhance its mission-ready solutions and will be able to expand into areas of helicopter production and sustainment. The anticipated closing date for the deal is 6 November.
Marillyn Hewson, chairman, president and CEO, Lockheed Martin, said: ‘With this final regulatory approval, we are one step closer to completing this historic acquisition. 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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