Sikorsky Suitors Make Their Pitch

Editor’s Note: In case you missed it from earlier this week. This story was originally published on July 9.

Lockheed Martin and Textron are the leading candidates to purchase Stratford-based Sikorsky Aircraft, according to the Connecticut Post.

The Post reports United Technologies Corp. is weighing offers from both companies and a decision could be made by the end of July. Sikorsky could be worth about $8 billion, according to the Post.

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

“Our strategic review has confirmed that exiting the helicopter business is the best path forward for United Technologies,” UTC President and Chief Executive Officer Gregory Hayes said in the announcement. “Sikorsky is the world’s premier helicopter company and through a series of strategic wins is well positioned for long-term growth. However, separation of Sikorsky from the portfolio will allow both United Technologies and Sikorsky to better focus on their core businesses. Over the coming weeks, we’ll determine whether a spinoff or direct sale is the best way to enhance Sikorsky’s long-term success and create the most value for customers and shareholders.”

Visit the Lockheed Martin corporate website here and Textron’s website here.

Read more at the Connecticut Post here.