https://sputnikglobe.com/20220214/lockheed-martin-drops-44bln-deal-to-buy-aerojet-rocketdyne-amid-antitrust-probe-1093018039.html
Lockheed Martin Drops $4.4Bln Deal to Buy Aerojet Rocketdyne Amid Antitrust Probe
Lockheed Martin Drops $4.4Bln Deal to Buy Aerojet Rocketdyne Amid Antitrust Probe
Sputnik International
MOSCOW (Sputnik) - US aerospace giant Lockheed Martin has scrapped a $4.4 billion deal with Aerojet Rocketdyne to buy the rocket engine maker after the federal... 14.02.2022, Sputnik International
2022-02-14T11:01+0000
2022-02-14T11:01+0000
2022-10-19T18:40+0000
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Taiclet said that the Maryland-based arms maker would continue working with Aerojet Rocketdyne, one of the companies making up the US defence industrial base, as it struggles to recover from the pandemic.The Federal Trade Commission (FTC) said in January that it had sued to stop the acquisition of the country's last independent supplier of missile propulsion systems over concerns that Lockheed would use its leverage to harm rival defence contractors.
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Lockheed Martin Drops $4.4Bln Deal to Buy Aerojet Rocketdyne Amid Antitrust Probe
11:01 GMT 14.02.2022 (Updated: 18:40 GMT 19.10.2022) MOSCOW (Sputnik) - US aerospace giant Lockheed Martin has scrapped a $4.4 billion deal with Aerojet Rocketdyne to buy the rocket engine maker after the federal antitrust authority moved to block it.
"We determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders," Lockheed Martin CEO James Taiclet said in a press statement issued Sunday.
Taiclet said that the Maryland-based arms maker would continue working with Aerojet Rocketdyne, one of the companies making up the US defence industrial base, as it struggles to recover from the pandemic.
The Federal Trade Commission (FTC) said in January that it had sued to stop the acquisition of the country's last independent supplier of missile propulsion systems over concerns that Lockheed would use its leverage to harm rival defence contractors.
