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News Breaks
January 8, 2013
19:52 EDTUTX, GYGenCorp receives modification to FTC request related to Rocketdyne acquisition
GenCorp (GY) announced that it has received a modification to the request for additional information from the Federal Trade Commission in connection with the company's proposed acquisition of Pratt & Whitney Rocketdyne from United Technologies (UTX). The modification excludes large and medium liquid rocket engines for launch vehicles and spacecraft from the scope of the FTC's investigation of the proposed acquisition. United Technologies has received a similar modification to the Second Request letter it received. At this time, the FTC's investigation of the proposed acquisition is limited to the Liquid Divert and Attitude Control Systems businesses of GenCorp and United Technologies. GenCorp is in the process of preparing its LDACS business for sale to facilitate an expeditious completion of the FTC's investigation. Completion of the transaction is subject to the satisfaction of customary closing conditions, including required regulatory approvals. The company expects the acquisition to close in 1H13.
News For GY;UTX From The Last 14 Days
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October 9, 2015
17:21 EDTUTXSikorsky Aircraft awarded $191.5M government contract
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October 8, 2015
10:00 EDTUTXOn The Fly: Analyst Initiation Summary
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09:01 EDTUTXJPMorgan hosts an Electrical Equipment/Analyst Industry conference call
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07:15 EDTUTXUnited Technologies initiated with a Neutral at JPMorgan
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October 2, 2015
12:23 EDTUTXSupply chain issues impact Pratt & Whitney production this summer, WSJ says
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October 1, 2015
18:19 EDTUTXSikorsky Aircraft awarded $189.43M government contract
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September 30, 2015
19:57 EDTUTXDoD concerned about 'excessive consolidation' after Lockheed-Sikorsky deal
Frank Kendall, the Under Secretary of Defense for Acquisition, Technology and Logistics, said in a statement earlier Wednesday that alluded to Lockheed Martin's (LMT) acquisition of United Technology's (UTX) Sikorsky unit, "With size comes power, and the department's experience with large defense contractors is that they are not hesitant to use this power for corporate advantage." Kendall added that the DoD would work with Congress to "explore additional legal tools and policy to preserve the diversity and spirit of innovation that have been central to the health and strength of our unique, strategic defense industrial base, particularly at the prime contractor level." Reacting to Kendall's statement, Lockheed spokesman Dan Nelson said, "There is no evidence to support the view that larger defense companies reduce competition or inhibit innovation... We believe that defense contractors should continue to be assessed based on the performance and effectiveness of the products and solutions offered, not on the size of their company."
September 28, 2015
15:33 EDTUTXPratt & Whitney renews JV agreement for training center in Beijing
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