The Defense Department is seeking permission from Congress to negotiate a pair of multiyear contracts with Raytheon for Standard Missiles worth nearly $4 billion. The deal would lock in five years of purchases for the SM-3 Block IB ballistic missile interceptor and the SM-6 guided missile, designed to defeat a range of targets, including aircraft, cruise missiles, ships and ballistic missiles. While the Pentagon had considered at one point the idea of bundling the two multiyear proposals into a single...
