Editing Lockheed Corporation (section)

===Merger with Martin Marietta===
Merger talks between Lockheed and [[Martin Marietta]] began in March 1994, with the companies announcing their $10&nbsp;billion planned merger on August 30, 1994. The headquarters for the combined companies would be at Martin Marietta headquarters in [[North Bethesda, Maryland]].<ref>{{cite news |first=Floyd |last=Norris|title=A 'merger of equals,' with Martin Marietta the most equal |work=The New York Times |date=August 31, 1994|url=https://www.nytimes.com/1994/08/31/business/market-place-a-merger-of-equals-with-martin-marietta-the-most-equal.html}}</ref> The deal was finalized on March 15, 1995, when the two companies' shareholders approved the merger.<ref>{{cite news|title=Martin Marietta-Lockheed merger is approved|work=The New York Times|date=March 16, 1995|url=https://www.nytimes.com/1995/03/16/business/company-news-martin-marietta-lockheed-merger-is-approved.html}}</ref>  The segments of the two companies not retained by the new company formed the basis for [[L-3 Communications]], a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company [[Martin Marietta Materials]].

The company's executives received large bonuses directly from the government as a result of the merger.  [[Norman R. Augustine]] who was at the time CEO of Martin Marietta received an $8.2 million bonus.<ref>{{Cite web|url=https://apnews.com/5d722dfdd62b97a758ab5cc097220138|title=Audit Recommends Slashing Pentagon Incentive Pay for Defense Execs|last=Diamond|first=John|website=AP NEWS|access-date=April 24, 2019}}</ref>

Both companies contributed important products to the new portfolio. Lockheed products included the [[Trident missile]], [[P-3 Orion]] [[maritime patrol aircraft]], [[Lockheed U-2|U-2]] and [[SR-71]] [[Reconnaissance aircraft|reconnaissance airplanes]], [[F-117|F-117 Nighthawk]], [[General Dynamics F-16 Fighting Falcon|F-16 Fighting Falcon]], [[F-22 Raptor]], [[C-130 Hercules]], [[A-4AR Fightinghawk]] and the DSCS-3 satellite. Martin Marietta products included [[Titan (rocket family)|Titan rockets]], [[Sandia National Laboratories]] (management contract acquired in 1993), [[Space Shuttle external tank|Space Shuttle External Tank]], [[Viking 1]] and [[Viking 2]] landers, the Transfer Orbit Stage (under subcontract to [[Orbital Sciences Corporation]]) and various satellite models.