Lockheed to buy United Tech's Sikorsky for over US$8b: sources

Washington

LOCKHEED Martin Corp has agreed to buy United Technologies Corp's (UTC) Sikorsky Aircraft for over US$8 billion, two sources said on Sunday, cementing a deal that would confirm Lockheed's dominance in weapons making and giving the Black Hawk helicopter to the maker of the F-35 fighter jet.

The deal will add further heft to Lockheed, which already has annual revenues of around US$45 billion and dwarves its nearest competitors, the defence business of Boeing Co and Northrop Grumman Corp.