Lockheed Martin (LMT) May Fetch Up To $1.5B in EIG and PAE Sale - Reuters
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According to a report in Reuters today, Lockheed Martin (NYSE: LMT) may receive as much as $1.5 billion for two of its units that it put up for auction in June. Specifically, Lockheed may get about $1 billion for its Enterprise Integration Group (EIG) Unit, and $500 million for its Pacific Architects and Engineers Inc (PAE) business.
Sources said that final bids are due next week. Details of the auction are not public.
The two units combine to produce about 3% of LMTs $45 billion FY09 revenue, and slightly less than 3% of its operating profit.
Potential bidders for EIG include Kohlberg Kravis Roberts (NYSE: KKR), SRA International (NYSE: SRX), General Atlantic, Cerberus Capital Management, and Carlyle Group.
Sources said that final bids are due next week. Details of the auction are not public.
The two units combine to produce about 3% of LMTs $45 billion FY09 revenue, and slightly less than 3% of its operating profit.
Potential bidders for EIG include Kohlberg Kravis Roberts (NYSE: KKR), SRA International (NYSE: SRX), General Atlantic, Cerberus Capital Management, and Carlyle Group.
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