Pentagon-Lockheed Settlement Talks Stall
Talks between the Defense Department and Lockheed Martin Corp. to settle the government’s antitrust suit against Lockheed’s proposed $10.7-billion purchase of Northrop Grumman Corp. have broken down, a defense official said. The Pentagon statement clears the way for a trial set for Sept. 8. Shares of Bethesda, Md.-based Lockheed Martin fell $1.50 to close at $10.50 on the New York Stock Exchange. Shares of Los Angeles-based Northrop fell $2.38 to close at $103.06, also on the NYSE.