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Lockheed to buy UTC's Sikorsky for US$9b

[WASHINGTON] Lockheed Martin Corp , the Pentagon's largest supplier, on Monday announced it had agreed to buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp, for US$9 billion, or about US$7.1 billion after taking into account tax benefits resulting from the transaction.

"Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defence products and technologies," Lockheed Chief Executive Marillyn Hewson said in a statement.

Lockheed said it would align Sikorsky under its mission systems and training business, which had already worked closely with Sikorsky on several helicopter programs. Lockheed said it expected to close the transaction by late fourth quarter 2015 or early first quarter 2016, depending on regulatory approvals.