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Wed, Jan 29, 2014

Sources: UTC Considers Sikorsky Sale

Company Mum On Whether It Will Continue In The Helicopter Business

Corporate giant United Technologies may be looking to divest itself of Sikorsky, or at least change its relationship with the helicopter maker. Sources with inside knowledge of the company say that UTC is considering multiple options, including selling the company outright, spinning it off, or forging a strategic merger with another company.

No potential buyer for Sikorsky was identified by the sources, according to a report in appearing on Defense News online. Declining defense spending is one of the factors that could drive a possible change in UTC's relationship with Sikorsky. Analyst Byron Callan with Capital Alpha Partners said that the rumors, and they are just that at this time, are more "about the dynamics of the helicopter market" which has been good but will face serious challenges in the next five years.

The unnamed sources said that UTC has considered outright sale, but that a tax-free spinoff could be a better choice for the conglomerate because of the huge potential tax liability associated with an outright sale.

A UTC spokesman said the company does not respond to rumors. Sikorsky also had no comment. UTC also owns engine maker Pratt & Whitney and UTC Aerospace Systems.

FMI: www.utc.com

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