FTC sued to block the $4.4 billion takeover of Aerojet Rocketdyne in January, claiming it would harm competition. Read More...
American City Business Journals
Lockheed calls off $4.4B deal to acquire Aerojet Rocketdyne
Lockheed Martin Corp. (NYSE: LMT) said Sunday evening it terminated its $4.4 billion deal to acquire Aerojet Rocketdyne Holdings Inc. — a decision influenced by a Federal Trade Commission lawsuit to block the deal over antitrust concerns. The FTC cited Aerojet’s status as the last independent U.S. supplier of missile propulsion systems. “Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government,” CEO James Taiclet, Lockheed Martin chairman, president and CEO, said in a statement released Sunday just as the Super Bowl kicked off.
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