Lockheed Martin won't proceed with deal to acquire Aerojet RocketdyneNews
February 14, 2022
BETHESDA, Md. Lockheed Martin has terminated its agreement to acquire aerospace and defense company Aerojet Rocketdyne Holdings, following the U.S. Federal Trade Commission (FTC) lawsuit filed during January seeking a preliminary injunction to block the acquisition on antitrust grounds.
Lockheed Martin chairman, president, and CEO James Taiclet, said about the announcement: "Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government. However, we determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders."
Lockheed Martin had announced in December 2020 that it intended to buy Aerojet Rocketdyne, the last independent U.S. supplier of missile-propulsion systems.