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Lockheed Martin kills plans for acquiring Aerojet Rocketdyne after FTC blocks deal

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Lockheed Martin says it’s terminating its settlement to amass Aerojet Rocketdyne, lower than a month after the Federal Commerce Fee filed go well with to dam the $4.4 billion deal. In a press release, Lockheed Martin CEO James Taiclet stated that in gentle of the lawsuit, calling off the acquisition was “in the most effective curiosity of our stakeholders.” Aerojet makes all kinds of rocket engines — together with in-space propulsion programs which might be manufactured at its facility in Redmond, Wash. — and the FTC stated the deal would have given Lockheed Martin the flexibility to limit purchases of essential {hardware} by its aerospace rivals.

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