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Raytheon and United Technologies plan to merge

June 13, 2019 By Andrew Smith

Over the weekend, defense contractor Raytheon and aerospace company United Technologies announced that they plan to merge.  They’re calling it a “merger of equals,” an all-stock deal that would result in a new company, Raytheon Technologies.

If the deal makes it past regulators, the $100 billion company would become the second-largest aerospace and defense company in the U.S., behind Boeing.  The companies say the proposed merger’s important for them to keep their balance in shifting markets.  “They’re looking at it, in this acquisition, truly as a long-term view that this combined company will be able to ride the ups and downs of the markets,” said Doug Gates, head of aerospace and defense for KPMG.

Continue reading at:  Marketplace.org

Filed Under: Contracting News Tagged With: mergers, mergers and acquisitions, Raytheon, United Technologies

OPM chief to propose legislation for merger with GSA

May 16, 2019 By Andrew Smith

Nearly a year after the Trump administration announced its proposal to send the bulk of the Office of Personnel Management’s functions to the General Services Administration, acting OPM Director Margaret Weichert said Tuesday that she will be submitting proposed legislation to Congress authorizing the merger “hopefully by Friday.”

Speaking with reporters, Weichert said that the legislation would transfer the legal authorities currently provided to OPM to an as-yet unnamed office within GSA, akin to its existing Federal Acquisition and Public Buildings services.  Additionally, the bill would create a small policy-focused personnel office within the Executive Office of the President, modeled after the Office of Federal Procurement Policy.

Continue reading at:  Government Executive

Filed Under: Contracting News Tagged With: GSA, mergers, OPM

Mergers and acquisitions: Contractors advised to slow down and ensure compliance

October 16, 2017 By Andrew Smith

The pace at which government contractors are engaging in mergers & acquisitions has increased notably in recent years, as a stream of recent stories in the Washington Post and New York Times have reported.

The acquisition of a government contractor frequently provides the buyer an opportunity to increase its market share and/or strengthen its capabilities in an existing industry. The acquisition may also allow the buyer to develop and market a new government contracting capability that was previously lacking from its portfolio.

In the past few months alone, several multi-billion-dollar acquisitions within the government contracts sector have been announced. For example, in September 2017, Northrup Grumman announced it would acquire Orbital ATK, a rocket and defense contractor. Orbital will bring new capabilities to Northrup’s portfolio, including a missile defense business line and the ability to launch rockets that carry satellites into space. The deal, worth $7.8 billion, will also allow Northrup to bolster its existing satellite capabilities.

Keep reading this article at: http://www.mondaq.com/article.asp?articleid=635270

Filed Under: Contracting Tips Tagged With: acquisitions, compliance, DoD, industry, mergers

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