GAO Denies Lockheed Protest Of $500M Tech Contract
Law360, Washington (October 6, 2016, 1:42 PM EDT) -- Lockheed Martin Integrated Systems Inc.'s $5 billion Leidos deal has come back to bite it a second time, when the U.S. Government Accountability Office backed the U.S. Army Corps of Engineers' decision to award Science Applications International Corp. a $500 million computer contract over uncertainty tied to the deal.
The decision released Wednesday said the Corps could make reasonable decisions about the uncertainty caused by the deal based on the deal announcement in January. The deal, which combined Leidos and Lockheed's IT systems unit, included a $1.8 billion payment to Lockheed and stock exchanges as part of the transaction that combined...
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