Advertisement

AEROSPACE

From Times Staff and Wire Reports

Lockheed, Martin Marietta Set $100-Million ‘Breakup Fee’: The aerospace firms said either company would get $100 million if the other abandoned their $10-billion merger in favor of joining with another suitor. In a filing with the Securities and Exchange Commission, they also said each has the right to back out of the deal if regulators force them to shed significant assets on antitrust grounds. Lockheed said it believes that “adequate competition exists” to preclude the need for any divestitures. But if the government does require such sales as a condition of approving the merger, Lockheed said, “we would have to take a serious look at the impact of the request” on the deal.

Advertisement