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2 years ago
Lockheed to get $1.8 bln from services merger with Leidos
January 26, 2016 / 12:18 PM / 2 years ago

Lockheed to get $1.8 bln from services merger with Leidos

WASHINGTON, Jan 26 (Reuters) - Lockheed Martin Corp on Tuesday said it would combine its information systems and government services business with Leidos Holdings Inc, receiving a one-time payment of $1.8 billion and a 50.5 percent equity stake in Leidos.

Lockheed announced the deal as it reported higher-than-expected quarterly earnings, and a record backlog of $99.6 billion, including $15.6 billion for Sikorsky Aircraft, the helicopter maker it acquired from United Technologies Corp last year.

Reporting by Andrea Shalal

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