DoJ starts criminal probe into Sikorsky contract with Navy

• The U.S. Department of Justice has told Sikorsky Aircraft that it has launched a criminal investigation, alleging the helicopter maker had overbilled the U.S. Navy for a contract.
• The DoJ informed Sikorsky of the probe on July 13 and said it is seeking ~$148M in claims, Sikorsky's parent United Technologies (UTX -0.5%) said in an SEC filing.
• UTX says it is cooperating with the investigation but that it does not believe it is likely to lose the case.
• The complaint comes as UTX hopes to complete its announced $9B sale of Sikorsky to Lockheed Martin (LMT -0.2%).