… airforcemag.com … Lockheed To Buy Aeroject Rocketdyne for $5 Billion …Lockheed Martin is buying Aerojet Rocketdyne in a $5 billion deal that would give Lockheed in-house capability in solid rocket motors, expand its hypersonic portfolio, and complement the company’s work on ballistic missiles, space launch vehicles, and a number of munitions and tactical missile programs.
Lockheed is already the largest defense contractor, and the acquisition may draw some challenge from other contractors and Congress who are concerned about diminishing competition.
Most of Aerojet Rocketdyne would be consolidated with Lockheed’s Space unit and Missiles and Fire Control unit.
The acquisition is expected to be accomplished by late 2021, Lockheed CEO James D. Taiclet said on a Dec. 21 investor conference call.
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The Federal Trade Commission is suing Lockheed Martin to block it from acquiring Aerojet Rocketdyne Holdings Ltd., saying the merger would unreasonably hamper competition and give Lockheed Martin access to inside information about Aerojet Rocketdyne’s other industry partners.
The FTC said its complaint “alleges that if the deal is allowed to proceed, Lockheed will use its control of Aerojet to harm rival defense contractors and further consolidate multiple markets crucial to national security and defense.”
The regulator noted that this is the first time “in decades” that it has sued to block a defense merger.
… airforcemag.com … FTC Blocks Merger of Lockheed Martin and Aerojet Rocketdyne …
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… airforcemag.com … Lockheed Martin Walks Away From Deal to Buy Aerojet Rocketdyne …The world’s largest defense contractor says it’s given up on trying to buy the only U.S. maker of certain propulsion components of missiles and missile defense kill vehicles.
The Federal Trade Commission announced in January that it was suing Lockheed Martin to block the company from acquiring Aerojet Rocketdyne.
On Feb. 13, Lockheed Martin announced in a press release that it had terminated the purchase agreement.
