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FTC Requests More Boeing, Lockheed Data

October 25, 2005|From Associated Press

Lockheed Martin Corp. and Boeing Co. said Monday that the Federal Trade Commission had asked for more information in its antitrust review of a proposed joint satellite-launch company.

The two defense contractors said they believed that the FTC needed additional time to review the United Launch Alliance. It marks the second time federal regulators have postponed a decision on the venture.

Lockheed and Chicago-based Boeing submitted antitrust filings in August, then resubmitted them in September to allow for additional FTC and Defense Department review. A 30-day window for that review was set to expire Monday.

The joint company would give Bethesda, Md.-based Lockheed and Boeing, once fierce rivals for government rocket launch contracts, an equal stake in rocket launches for the Air Force, NASA and other agencies.

It also is meant to resolve a lawsuit Lockheed filed against Boeing over allegations that Boeing used stolen Lockheed rocket documents. Boeing was later temporarily banned from bidding on new launch contracts.

Lockheed shares closed up $1.55 at $62.35 and Boeing shares rose $1.30 to $67.32.

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