Lockheed Martin on Monday outlined its plan to separate its IT and technical services business into a separate company with Leidos by offering Lockheed stockholders the ability to exchange their shares for Leidos stock. The offer states that Lockheed stockholders could receive $111 in Leidos stock for every $100 they own if they take part in the exchange, according to a Lockheed release. Stockholders can exchange all, some, or none, with each share converted when the merger is complete. The offer, which is tax free, will expire Aug. 16. Lockheed announced in January it was spinning off the Information Systems & Global Solutions division into a new company with Leidos, an arrangement called a Reverse Morris Trust. The move allows for tax avoidance by creating a subsidiary, and Lockheed will have a majority of shares in the new entity.
As commander of Air Forces Central, Lt. Gen. Alexus G. Grynkewich has been in the middle of almost all U.S. military action in the Middle East, from overseeing airstrikes against Iranian proxy groups to protecting troops as America’s air defense commander for the region. Just before handing over his command to…