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Reuters: U.S. Air Force to re-evaluate bids in Raytheon radar deal

Jan. 20, 2015 4:56 PM ETRaytheon Company (RTN) StockLMT, NOC, RTXBy: Carl Surran, SA News Editor
  • The U.S. Air Force will re-evaluate proposals received in a competition for a long-range radar system initially won by Raytheon (NYSE:RTN) after losing bidders Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC) filed protests, Reuters reports.
  • It is unclear how long the re-evaluation of the bids would take, but Reuters says one source indicated it could include a more technical assessment of proposals submitted by the companies.
  • RTN in October beat out LMT and NOC to develop a replacement for the Air Force's current TPS-75 radar, which has been in service since the late 1960s.

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