BETHESDA, Md., Nov. 3 (UPI) — Lockheed Martin has cleared the final regulatory hurdle needed to acquire Sikorsky Aircraft, the company announced on Tuesday.
The final approval was given by the Chinese government’s Ministry of Commerce. Lockheed Martin chairman, president, and CEO Marillyn Hewson says her company is one step closer to a historic acquisition.
“Sikorsky brings a legacy of innovation and performance that perfectly complements Lockheed Martin’s portfolio,” Hewson said in a statement. “We are excited to soon welcome the men and women of Sikorsky to our team.”
The company expects to close the acquisition process on Friday, November 6. Sikorsky Aircraft be fitted
Lockheed Martin, already the world’s largest aerospace and defense contractor for armed forces around the world, announced plans for the $9 billion acquisition deal in July, and received approval from U.S. regulators in September.
The purchase has received mixed reactions from military and defense officials. Lockheed’s acquisition of Sikorsky raised Pentagon concerns in early October, with Under Secretary for Acquisition Frank Kendall telling reporters large-scale mergers may raise policy problems for the Defense Department in the future.
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