- The Pentagon has agreed in principle to acquire 71 more F-35 fighter jets from Lockheed Martin (LMT) after negotiating a price cut with the contractor.
- The Defense Department will buy 36 aircraft for 4% less than it paid last year and 35 planes for 8% less.
- The deal, which includes ancillary equipment, is reportedly worth over $7B.
- The lower prices are enabling the Pentagon to acquire all the F-35s it has planned to in what will be the sixth and seventh purchase lots.
at Investor's Business Daily (Wed, 12:50PM)