Lockheed Martin's (LMT) L-T Ratings Placed on Watch Negative by Fitch
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United Technologies Announces Agreement To Sell Sikorsky Aircraft
July 20, 2015 7:32 AM EDTHARTFORD, Conn., July 20, 2015 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) today announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (NYSE: LMT) for $9 billion in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the first quarter of 2016. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale.
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