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AEROSPACE

From Times Staff and Wire Reports

Lockheed-Martin Merger Given FTC Clearance: Lockheed Corp. and Martin Marietta Corp. agreed to settle federal charges that their proposed $10-billion merger would violate antitrust laws. The proposed agreement with the Federal Trade Commission means one of the biggest defense unions ever planned can proceed, the FTC said in announcing the settlement. The proposed settlement, which could be finalized after 60 days, will require the new company, Lockheed Martin Corp., to open the so-called teaming arrangements the individual companies now have with the makers of infrared sensors, in order to restore competition for certain types of military satellites.


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