The defense giant is reportedly leading a competitive auction for Advent International-owned Ultra Maritime, with a deal potentially coming as early as next week.
- Ultra Maritime specializes in anti-submarine warfare and undersea defense technologies.
- Talks are ongoing, though several other bidders remain in the running, according to the report.
- The potential deal comes as defense companies expand military technology portfolios amid rising geopolitical tensions and higher global defense spending.
Lockheed Martin (LMT) is reportedly leading the race to acquire Ultra Maritime, owned by private equity firm Advent International, in a deal that could value the naval defense business at about $3.5 billion.
Shares of Lockheed Martin (LMT) rose 4.62% on Thursday before edging lower in after-hours trading. At the time of writing, the LMT stock was down 0.3%.
LMT Leads Bidding Race
Lockheed Martin has emerged as the frontrunner to acquire Ultra Maritime, a division of Advent’s Cobham Ultra business that specializes in anti-submarine warfare and undersea defense technologies, reported the Financial Times, citing people familiar with the matter.
Talks are ongoing, and a deal could be announced as early as next week, according to the report. It added that several other bidders remain interested in Ultra Maritime as part of a competitive auction process.
Ultra Maritime specializes in anti-submarine warfare and undersea defense technologies. The company is part of Cobham Ultra, a group created after Advent acquired British aerospace company Cobham in 2019 and later combined it with Ultra Electronics following its 2022 takeover.
The potential deal comes as defense contractors seek to expand their military technology portfolios amid heightened geopolitical tensions and increased defense spending driven by conflicts, including the war in Ukraine and fighting in the Middle East.
Advent had put Ultra Maritime up for sale earlier this year, Bloomberg reported in March. At the time, the private equity firm was exploring a sale of the business for more than $4 billion and had hired JPMorgan Chase & Co. and Guggenheim Partners to advise on a potential transaction.
LMT Stock: What Stocktwits Retail Sentiment Says
On Stocktwits, retail sentiment for LMT was ‘bearish,’ unchanged in the last 24 hours, with message volume being ‘normal.’
One Stocktwits retail trader described the potential acquisition as a “strategic add-on for $LMT if this gets done.”
View this Stocktwits post
LMT stock has gained nearly 13% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<