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Boeing | Forces - Space | Launch Vehicles | Lockheed Martin | Mergers & Acquisitions | USA

Boeing & Lockheed Merge Rocket Divisions

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After nearly 15 months of off-and-on negotiations, Lockheed Martin Corp. and Boeing Co. said yesterday that they will merge their struggling government rocket businesses. The companies said they expect the joint venture to generate $1.5 billion to $2 billion in revenue per year from the government and save it $100 million to $150 million a year. The firms have a similar joint venture to manage the day-to-day operations of NASA's space shuttle program. The deal must be approved by the Pentagon and U.S. and international regulatory agencies. If approved, it is expected to close by the end of the year....

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