Lockheed Terminates $4.4 Bln Aerojet Rocketdyne Deal Due To U.S. FTC's Lawsuit

(RTTNews) - Lockheed Martin Corp. (LMT) said Sunday that it has terminated its agreement to acquire Sacramento, California-based aerospace and defense rocket engine manufacturer Aerojet Rocketdyne Holdings Inc. (AJRD).

The decision follows the U.S. Federal Trade Commission's lawsuit filed late last month seeking a preliminary injunction to block the acquisition.

The FTC's complaint had alleged that if the deal was allowed to proceed, Lockheed would use its control of Aerojet to harm rival defense contractors and further consolidate multiple markets critical to national security and defense.

In December 2020, Lockheed Martin agreed to buy Aerojet Rocketdyne in $4.4 billion deal.