Ownership Change Costs Co. $5B Nuke Site Contract

By Bryan Koenig (September 1, 2016, 3:31 PM EDT) -- A U.S. Department of Energy agency announced the rescindment Wednesday of a nuclear nonproliferation site contract worth up to $5 billion, awarded just five days earlier, because the awardee didn't give notice that it had changed hands from Lockheed Martin to Leidos.

The National Nuclear Security Administration said that the winning proposal for Nevada Site Science Support and Technologies Corp. LLC, or NVS3T, had identified the company as a wholly owned Lockheed Martin Integrated Technology LLC subsidiary. The agency said it only found out after announcing the award Aug. 26 that NVS3T had been acquired by Leidos Innovations Corp.

"NVS3T did...

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