Pratt & Whitney has congratulated Northrup Grumman on winning the contract to make the military’s next generation stealth bomber, but it still isn’t clear if the East Hartford jet engine maker will benefit.
The Pentagon says the identity of the engine contractor on the massive project is still classified. Pratt and rival General Electric are both known to be offering an engine. Northrup’s contract could be worth $55 billion over the life of the program.
The company beat out a partnership of Lockheed Martin and Boeing for the award.
Industry experts say the chances are good that Pratt has been selected, because of its experience producing engines for the F-35 program, and for the F-22.
Pfizer Eyes Allergan Deal
Pfizer has confirmed its in merger talks with Irish firm Allergan, the maker of Botox maker.
Pfizer, which has a research lab in Groton, has been seeking for some years to merge with an overseas company to complete what's known as an inversion, a method of avoiding U.S. corporate taxes by moving its nominal headquarters overseas.
Both Pfizer and Allergan said no agreement has been reached, and declined to discuss any terms that might lead to such a tie-up.
Allergan shares jumped 8.2 percent in early trading, while Pfizer was off almost one percent. Pfizer Chief Executive Officer Ian Read said he was open to any moves that produce the best long-term value for the company.
Sale on the Cards for Starwood?
Speculation continues about the future of Starwood Hotels, the Stamford-based company that owns the Sheraton and Westin brands, among others.
Hyatt Hotels is rumored to be interested in making a bid for Starwood, as are several Chinese companies. Starwood employs more than 2,000 people at its Stamford headquarters.
It has previously said it's interested in exploring strategic alternatives for the company.
Happy Birthday CBIA!
The Connecticut Business and Industry Association celebrates its 200th birthday on Thursday. The state’s largest business organization will host an event in Hartford on Thursday night, featuring Joe Scarborough of MSNBC's "Morning Joe" and Governor Dannel Malloy.
The CBIA was born in 1815 under a slightly different name. It came into being as the Connecticut Society for the Encouragement of American Manufacturing.
