Lockheed Martin Gets U.S. Regulatory Approval For Sikorsky Aircraft Takeover

(RTTNews) - Defense contractor Lockheed Martin Corp. (LMT) said Thursday that the U.S. regulatory authorities have approved its $9 billion takeover of Sikorsky Aircraft business from United Technologies Corp. (UTX). Additionally, regulatory review was complete in Japan and Korea.

Closing of the Transaction remains subject to other regulatory approvals and customary closing conditions.

In July 2015, Lockheed Martin had said it agreed to buy the Sikorsky Aircraft business of United Technologies for $9 billion in cash. However, the price was effectively reduced to about $7.1 billion, after taking into account a tax benefit of about $1.9 billion resulting from the deal.