Summary
This Form 8-K filing from Lockheed Martin Corporation (LMT) reports a significant development in their previously announced acquisition of Sikorsky Aircraft Corporation from United Technologies Corporation (UTC). The primary update is the expiration of the Hart-Scott-Rodino (HSR) antitrust waiting period, a key closing condition for the transaction. This expiration, effective September 23, 2015, signals that U.S. antitrust regulators have raised no objections to the deal, paving the way for its completion. Furthermore, the filing notes that regulatory review is also complete in Japan and Korea. While this represents substantial progress on the regulatory front, investors should be aware that the closing of the Sikorsky acquisition is still subject to other remaining regulatory approvals and customary closing conditions. The successful completion of this acquisition would significantly expand Lockheed Martin's aerospace and defense portfolio, particularly in helicopter manufacturing.
Key Highlights
- 1Expiration of Hart-Scott-Rodino (HSR) Antitrust Waiting Period on September 23, 2015, a key condition for the Sikorsky acquisition.
- 2Regulatory review is complete in Japan and Korea for the Sikorsky acquisition.
- 3The acquisition of Sikorsky Aircraft Corporation from UTC remains subject to other regulatory approvals.
- 4Customary closing conditions must also be satisfied for the transaction to be finalized.
- 5This 8-K filing serves as an update on the progress of the Sikorsky acquisition, following the initial announcement on July 19, 2015.
- 6The Stock Purchase Agreement for the transaction was previously filed on July 20, 2015.