Friday, September 25, 2015
Sikorsky Acquisition Pending International Approval
Lockheed Martin's $9 billion acquisition of Sikorsky Aircraft has been green lit in the U.S., Japan and South Korea, and now awaits additional approval from abroad, according to Reuters. LM along with Sikorsky parent United Technologies Corp. on Sept. 23 filed a stock purchase agreement with the U.S. Securities and Exchange Commission. U.S. regulators approved that agreement the following morning. The acquisition now awaits approval from international markets where the two companies have business interests, such as the European Union and China. LM reported in a July 20 announcement that it does not anticipate the process to extend beyond the first quarter of 2016, after which it plans to integrate Sikorsky into its Mission Systems & Training division—bolstering a military portfolio that already serves Sikorsky's MH-60R antisubmarine helicopter and provides the mission management and control systems for Kaman's unmanned K-MAX.