Lockheed Martin’s Purchase of Sikorsky Moving Forward

The US Justice Department completed its regulatory review of Lockheed Martin’s planned acquisition of Sikorsky on Sept. 23, allowing the merger to move forward, company spokeswoman Mayra Bergman said on Thursday. “This is a positive step in our regulatory review process and we appreciate the DOJ’s thorough and timely review of our submission,” said Bergman. “We look forward to completing regulatory approval in all the remaining jurisdictions.” The $9 billion purchase from United Technologies Corp., Sikorsky’s parent company, also cleared regulatory reviews in Japan and South Korea, but is still subject to “other regulatory approvals,” stated a Sept. 23 filing with the Securities and Exchange Commission. “Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies,” Lockheed Martin President Marillyn Hewson said in July when the agreement was first announced. “I’m confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment,” she added. The purchase would add both the Air Force’s future HH-60 Combat Rescue Helicopter and the VH-92 presidential support helicopter to the company stable.