In 1982 Martin Marietta was subject to a hostile takeover bid by the Bendix Corporation. Bendix bought the majority of Martin Marietta shares and in effect owned the company. However, Martin Marietta's management used the short time separating ownership and control to sell non-core businesses and launch its own hostile takeover of Bendix (known as the Pac-Man defense). The end of this extraordinarily bitter battle saw Martin Marietta survive; Bendix was bought by Allied Corporation.
Timeline
1961: Martin Marietta formed by merger of the Glenn L. Martin Company and American-Marietta Corporation
1982: Bendix Corporation's attempted takeover ends in its own sale to Allied Corporation, Martin Marietta survives.
1986: Wins contract to convert Titan IIICBMs into space launch vehicles. The Martin Company built the original ICBMs.
1987: Electronics & Missiles Group formed, headquartered in Orlando
1991: Electronics & Missiles Group reorganized into the Electronics, Information & Missiles Group
1993: Acquires General Electric Aerospace for USD3 billion, allowing combined marketing of complementary systems, e.g. Martin Marietta's Titan missiles launching GE Aerospace's satellites.
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