DoD: No mergers for biggest contractors
The Defense Department\'s acquisition chief said mergers would hurt competition.
The Pentagon says it will not approve mergers among its biggest contractors.
Acquisition chief Ashton Carter tells Bloomberg TV that he expects spinoffs and consolidations, as the Defense Department tries to slim spending.
Carter says that’s a good thing among small- and medium-sized firms. But mergers among big companies, like Lockheed Martin and Northrop Grumman, could hurt competition.
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