After jumping through almost every hoop imaginable, Lockheed Martin has finally cleared the last antitrust regulatory hurdle after receiving approval from regulatory authorities in Korea and Japan. This means it has now received the final regulatory approval it needs for its acquisition of Sikorsky Aircraft to be completed.

The final approval came after the successful conclusion of the regulatory review performed by the Ministry of Commerce of the People’s Republic of China and represents the end of a successful and comprehensive regulatory review process spanning eight jurisdictions.

Lockheed now expects that its acquisition of the world leader in military and commercial rotary wing aircraft from United Technologies Corp will close on Friday, November 6.

“With this final regulatory approval, we are one step closer to completing this historic acquisition,” stated Lockheed’s Chairman, President and CEO, Marillyn Hewson.

“Sikorsky brings a legacy of innovation and performance that perfectly complements Lockheed Martin’s portfolio. We are excited to soon welcome the men and women of Sikorsky to our team.”

Once the acquisition goes through, the addition of Sikorsky Aircraft will advance Lockheed Martin’s commitment to deliver affordable and efficient mission-ready solutions, while at the same time expands its core business into the areas of helicopter production and sustainment which are continuously growing, Lockheed said.

Lockheed agreed to purchase Sikorsky Aircraft business of United Technologies Corp. in July this year for 9 billion in cash. However, the price was effectively reduced by close to $1.9 billion in tax benefits due to the IRS’s treatment of Lockheed Martin’s investment as an asset purchase.

This brought the final price down to around $7.1 billion, making the purchase even more profitable for Lockheed.

“I’m surprised that they got Sikorsky for such a low price,” noted Loren Thompson, Chief Operating Officer of the Arlington-based Lexington Institute think tank. “After taxes, the price tag is less than one year of sales for Sikorsky.”