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Lockheed Martin Terminates Deal For Aerojet Rocketdyne

Cal Biesecker By
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Lockheed Martin Terminates Deal For Aerojet Rocketdyne
James Taiclet, chairman, president and CEO of Lockheed Martin. Photo: Lockheed Martin

Lockheed Martin [LMT] on Sunday evening just before kickoff at the Super Bowl said it has terminated its agreement to acquire rocket propulsion supplier Aerojet Rocketdyne [AJRD] following the U.S. Federal Trade Commission’s decision in January to seek to block the $4.4 billion deal due to anti-competitive concerns. “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, James Taiclet, Lockheed Martin’s chairman, president and CEO,…

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