DoD: No mergers for biggest contractors

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.

This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.