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.
Roughly two of every five fighters in the Air Force fleet could be F-35As by 2035, according to a new fighter force structure report the service submitted to Congress on Oct. 16. Lt. Gen. David Tabor, deputy chief of staff for plans and programs, revealed the new estimate during an…