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Technology Stocks : LOCKHEED MARTIN, (LMT) -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo Cobb who wrote (462)	12/9/1998 9:01:00 AM
From: Wally Mastroly	Respond to of 732

>U.S.-EUROPE MERGER DEALS UNLIKELY UNTIL PENTAGON DETERMINES POLICY: ">Despite media speculation in Europe that Britain's GEC-Marconi is on the verge of striking a merger with Lockheed Martin, senior industry executives and analysts maintain that major business deals involving leading U.S. and European defense contractors are unlikely to be announced before the Pentagon discloses whether it would approve such transactions. The Pentagon leadership is now working to update its position on transatlantic business combinations, which would be based in part on the findings of two key studies launched late this summer that are aimed at assessing the implications of defense industry globalization on the Defense Department and U.S. national security. Defense Secretary William Cohen and his deputy, John Hamre both have said the impending globalization of the defense and aerospace raise important national security concerns that have to be addressed. A Lockheed Martin spokesman declined comment regarding a possible deal with GEC, citing company policy not to discuss merger and acquisition activity. GEC could not be reached for comment at press time. But other sources expressed doubt that Lockheed Martin was negotiating a deal with GEC. First, the company is busy trying to secure government approval of its $2.6 billion merger with COMSAT and has considerable debt it wants to pay off before launching another transaction. Second, senior executives would not attempt a risky deal such as a GEC merger until they find out exactly where the Pentagon stands on transnational deals. (Defense Daily) <"