Lockheed Martin, the world’s largest defense contractor by revenue, makes these F-35B Lightning II combat aircraft.
Photo: katia christodoulou/Shutterstock
The Federal Trade Commission on Tuesday filed an antitrust lawsuit that seeks to block Lockheed Martin Corp.’s LMT 0.54% $4.4 billion purchase of Aerojet RocketdyneHoldings Inc., arguing the deal would harm rival defense contractors and lead to unacceptable consolidation in markets critical to national security and defense.
Earlier Lockheed Martin, the world’s largest defense contractor by revenue, had said it was “highly likely” that the Federal Trade Commission would sue before Jan. 27 to block its proposed deal for Aerojet, which makes engines for rockets and missiles.
Lockheed Martin agreed to buy Aerojet in December 2020, but has faced opposition from some defense contractors concerned about the future availability of the rocket motors. Lockheed Martin said it still supported the planned deal, and could decide to challenge any FTC suit or terminate the planned deal.
Aerojet Rocketdyne said it continued to support the proposed deal.
Write to Doug Cameron at [email protected]
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