logo
  

United Technologies Reportedly Talking To Possible Buyers For Sikorsky Unit

United Technologies Corp. (UTX) is talking to potential buyers for its Sikorsky Aircraft business, the Wall Street Journal reported citing people familiar with the matter said.

According to report, Boeing Co., Airbus Group NV and Lockheed Martin Corp. are among the companies exploring bids for Sikorsky or, alternatively, for a minority stake. Bids are due later this month.

Sikorsky is one of the world's largest helicopter makers with $7.5 billion in sales last year to a range of military and civilian buyers. The company could fetch around $10 billion in a full sale, the report said.

One sticking point of a potential sale is the tax bill. The corporate predecessor to United Technologies bought Sikorsky in 1929, meaning the gain from a sale could garner a large tax bill. As a result, when United Technologies said it was exploring strategic alternatives for the unit earlier this year, it indicated a spinoff was the most likely outcome.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22. ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook. The company reported a quarterly... Shares of BioNTech SE were losing around 4 percent in the morning trading in Germany and around 5 percent in the pre-market activity on Nasdaq after the German Covid-19 vaccine maker reported sharp drop in profit and revenues for the second quarter. However, the company recorded strong growth in first-half results. Further, the company maintained BioNTech COVID-19 vaccine revenue guidance
Follow RTT