OTHER NEWS - Jan. 18, 1992
From Times Staff and Wire Reports
Lockheed, Martin Marietta May Bid for LTV Units: Martin Marietta Corp. and Lockheed Corp. are “moving toward” making a bid of more than $350 million for LTV Corp.’s aerospace and defense business, according to a story in the Wall Street Journal. Quoting unnamed sources close to the negotiations, the Journal said the pair would run the LTV operations as a 50-50 joint venture if their bid was successful. A person familiar with the talks said Friday that Martin Marietta and Lockheed were just two of several bidders for LTV’s aerospace and defense units. Separately, U.S. Bankruptcy Judge Burton Lifland approved a bid in the sale of LTV’s Am General Corp. unit to New York-based Renco Group Inc. for $133 million.
