Lockheed Martin Corp. on Sunday said it had scrapped plans to buy Aerojet Rocketdyne Holdings Inc. after federal antitrust overseers last month sued to block the proposed $4.4 billion deal.
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Lockheed Martin Corp. on Sunday said it had scrapped plans to buy Aerojet Rocketdyne Holdings Inc. after federal antitrust overseers last month sued to block the proposed $4.4 billion deal.
Lockheed Martin LMT, +2.79%, the world’s largest defense company by sales, had hoped to add Aerojet’s AJRD, +2.76% expertise in building rocket motors for its own missile and space systems, but the proposed deal drew fire from the Federal Trade Commission that a combination could hinder rivals.
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