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Article: Lockheed Martin, Northrop Grumman seek merger approval.
- Article from:
- Defense Daily
- Article date:
- August 29, 1997
- Author:
CopyrightCOPYRIGHT 1997 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lockheed Martin [LMT] and Northrop Grumman [NOC] yesterday filed with the Justice Department seeking approval of their planned $11.6 billion merger.
The government conducts a detailed antitrust review of all mergers and acquisitions. Wall Street and defense analysts--as well as senior executives from both companies--are confident Justice will approve the deal, allowing it to close by the end of the year.
The two companies announced their merger plans July 3, a move that would create a $36 billion giant that would be the world's largest defense company (Defense Daily, July 7). Boeing [BA], a $48 billion titan, is the nation's second largest defense contractor, ...