RPT-UPDATE 1-Boeing, Lockheed eye British defence firms -Times

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(Adds no comment from Boeing, Lockheed)

LONDON, Feb 16 (Reuters) - Boeing Co. (BA.N) and Lockheed Martin Corp. (LMT.N) are eyeing British firms worth more than 5 billion pounds ($9.8 billion) in a bid to win work from Britain's Ministry of Defence, the Times reported.

The two U.S. defence giants were understood to have already independently approached and been rebuffed by defence and aerospace company Ultra Electronics Holdings Plc (ULE.L), the British newspaper said in its Friday edition.

They were also thought to be considering potential bids for rivals Cobham Plc (COB.L), Meggitt Plc (MGGT.L) and Chemring Group Plc (CHG.L), it said.

A spokesman for Chicago-based Boeing declined to comment. A spokesman for Lockheed, headquartered in Bethesda, Maryland, said the firm did not comment on speculation involving potential mergers, divestitures or acquisitions.

None of the British firms were immediately available for comment.

The Times quoted a Lockheed spokesman as saying: "We are a growing company and an ambitious company and we will look to move in the direction of acquisitions if it is appropriate to do so."

A Boeing spokesman was cited as saying: "We are looking at the option of acquisitions."

But Allan Cook, chief executive of Cobham, told the Times: "This is about national defence and it does matter where the shareholders are. We have to maintain core skills in aerospace and defence."

(Additional reporting by Washington bureau)

($1=.5087 Pound)

((Reporting by Deborah Haynes, editing by Braden Reddall; e-mail: Deborah.Haynes@reuters.com; tel: +44 207 542 7717)) Keywords: BOEING LOCKHEED/BRITAIN

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