Lockheed Martin to Acquire Ultra Maritime in $3.45 Billion Deal
LMT sits 31% above its 52-week low of $410.11 on light trading volume (0.2× avg).
Summary
Lockheed Martin announced a $3.45 billion deal to acquire Ultra Maritime from private equity firm Advent International. This acquisition is expected to enhance Lockheed's anti-submarine warfare capabilities and expand its sonar solutions for maritime platforms. The strategic move follows a period where Lockheed secured several large defense contracts, despite reporting a Q1 earnings miss and negative free cash flow earlier this year. This deal strengthens Lockheed's defense portfolio by adding a complementary business segment.
At the time of this announcement, LMT was trading at $536.98 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $123.8B. The 52-week trading range was $410.11 to $692.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.