Deals
Lockheed Deal With Aerojet Is in Jeopardy as FTC Files Suit
- Agency move signals tough White House stand against mergers
- Proposed $4.4 billion deal was early big play for Lockheed CEO
This article is for subscribers only.
U.S. antitrust regulators sued to block Lockheed Martin Corp.’s $4.4 billion purchase of Aerojet Rocketdyne Holdings Inc., signaling that the Biden administration will get tough on deals that could reduce defense industry competition.
Lockheed executives said they are deciding whether to fight the government’s move or rework their strategy for using Aerojet’s propulsion systems in developing hypersonic weapons -- a critical U.S. defense imperative.