Blog » Archive by category 'Mergers & Acquisitions' (Page 2)

Industry Week in Review – February 26, 2016

The chairman of the Senate Armed Services Committee (“SASC”), Senator John McCain, stated he will not authorize the Long Range Strike-Bomber (“LRS-B”) if the procurement is on a cost-plus basis. Senator McCain expressed concern of the additional costs associated with the contract structure and voiced opposition to hear the Air Force’s perspective on the matter. Following the Senator’s remarks, the Air Force revealed the contract will be divided into two parts, cost-plus and firm fixed price.

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Industry Week in Review – February 19, 2016

The Government Accountability Office (“GAO”) denied Boeing and Lockheed Martin’s protest of the Pentagon’s award of the Long Range Strike Bomber (“LRS-B”) contract to Northrop Grumman. However, Boeing still has the option of pursuing the matter in court, and has suggested it’s considering doing so. Northrop Grumman was initially awarded the contract on October 27, 2015, but the decision was soon after protested.

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Industry Week in Review – February 12, 2016

The Securities and Exchange Commission (“SEC”) has launched an investigation to determine whether Boeing properly accounted for the costs and expected sales of the 787 Dreamliner and the 747 jumbo aircraft. The probe, prompted by a whistleblower’s complaint, concentrates on projections made by the Company about the long term profitability of two of its best known jetliners. Both aircraft are renowned for the technological advancements they introduced into the aerospace industry.

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Industry Week in Review – February 5, 2016

This week, Defense Secretary Ash Carter previewed the GFY2017 defense budget request in anticipation of the full release next week. According to Carter, the $583 billion budget takes a “long view” approach, as the U.S. prepares for challenges decades down the road. The planning of the budget was driven by several key factors including the rise of Russia and China, the threat of North Korea, Iran’s influence in the Gulf Coast, and the current fight against the Islamic State.

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Industry Week in Review – January 29, 2016

Boeing released its financial guidance for 2016, which included plans to deliver fewer commercial jets this year than last. The guidance sent shares down 8.9% to end Wednesday trading at $116.58, its lowest close since October 2013. However, Boeing achieved first flight of its 737 MAX on Friday, hoping to stay competitive against Airbus for the next decade in short-haul airliners.

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Industry Week in Review – January 22, 2016

The U.S. State Department approved the sale of more than 33,000 F-16 Block-52 weapons and munitions to Iraq for roughly $2 billion. According to the Defense Security Cooperation Agency, Iraq will use the weapons systems and logistic services to maintain its F-16 fleet functionality and support pilot training.

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Industry Week in Review – January 15, 2016

The U.S. Air Force selected Orbital ATK and SpaceX to develop prototypes of rocket engines as a part of the persistent push to end reliance on the Russian RD-180 boosters for military space launch. Orbital ATK secured a $47.0 million contract to develop prototypes of its GEM 63XL strap-on solid rocket motor, the common booster segment solid rocket motor, and an extendable nozzle for Blue Origin’s BE-3U engine.

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Industry Week in Review – January 8, 2016

Lockheed Martin secured a $5.3 billion contract to deliver 78 C-130J Super Hercules aircraft to the U.S. armed forces from 2016 through 2020. The C-130J aircraft, one of the longest-running military aircraft programs, is a versatile tactical airlifter used in many different types of missions for the U.S. Air Force, Marine Corps, and Coast Guards.

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