The Financial Times reported that Lockheed Martin was leading the race to acquire Ultra Maritime.
The report stated that talks are in progress and a deal could be announced by the end of next week. It also said that several 'other bidders' remain interested as part a 'competitive auction procedure.
Lockheed Martin and Advent did not respond to comments immediately.
Ultra Maritime, a company that specializes in antisubmarine warfare technologies and undersea defense, is a part of Cobham Ultra. This group was created when?Advent purchased British aerospace Cobham, in 2019, and then combined it with?Ultra Electronics after its takeover in 2022.
Potential 'deal' comes as defence contractors look to expand their portfolios of military technology amidst increased geopolitical tensions, and increased defence spending due to conflicts such as the war in Ukraine and the fighting in the Middle East.
In extended trading, shares of Lockheed Martin fell marginally.
(source: Reuters)
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