Report: Sikorsky Sale Nears Completion

Lockheed Martin Corporation has agreed to buy Stratford-based Sikorsky Aircraft for more than $8 billion, Reuters reported on Sunday.

Lockheed Martin and United Technologies are expected to announce the deal on Monday, according to Reuters, which cited two sources (who weren’t authorized to speak publicly) in its report.

Lockheed Martin and Textron were the reported finalists to purchase Sikorsky but Textron dropped out of the bidding after the price rose, according to Reuters.

United Technologies announced last month that it would pursue the spinoff or sale of Sikorsky.

U.S. Senator Chris Murphy (D-Conn.) released the following statement on Sikorsky on Sunday night:

“For nearly 90 years, Sikorsky has provided generations and generations of hard working Connecticut residents with the stable and meaningful career opportunities they deserve, and the liberties that come with it. As the sale of Sikorsky becomes final, I will work closely with Sikorsky leadership to protect those jobs and ensure that Sikorsky helicopters continue to be made right here in Connecticut by our skilled and talented workforce. Connecticut’s defense manufacturing industry is the best in the world, and I am committed to supporting and defending the tens of thousands of jobs it supports across our state.”

Visit the Lockheed Martin corporate website here.

Read more about the sale at Reuters here.