March 8, 1998 (by Lieven Dewitte) -
The proposed $9 billion merger of Lockheed Martin Corp. and Northrop Grumman Corp. was dealt a major setback Monday when the companies unexpectedly announced that the government opposed the transaction.
The combined companies would have 230, 000 employees, sales of $37 billion and the strength to take on Boeing Co., which recently completed its $14billionpurchase of McDonnell Douglas Corp.
The companies agreed not to complete the deal until April 24, a month later than the March 24 date they had set earlier.
