Sikorsky agrees to sale to Lockheed Martin for $9 billion

After weeks of speculation, United Technologies Corp. announced Monday morning it has agreed to sell helicopter unit Sikorsky, maker of the Black Hawk helicopter, to Lockheed Martin.

Hartford, Conn.-based UTC said it reached agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. for $9 billion in cash. Lockheed Martin has been both a competitor and partner to Sikorsky on military contracts over the years.

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This story was originally published July 20, 2015 at 7:08 PM with the headline "Sikorsky agrees to sale to Lockheed Martin for $9 billion."