From today's Barron's:
Aerojet Rocketdyne Stock Sinks as FTC Sues to Block Lockheed’s Purchase of Aerojet
By
Sabrina Escobar and
Lina Saigol
Updated Jan. 25, 2022 12:04 pm ET / Original Jan. 25, 2022 9:01 am ET
The Federal Trade Commission sued to block Lockheed Martin‘s $4.4 billion acquisition of Aerojet Rocketdyne, sending Aerojet stock tumbling.
If the deal was allowed to proceed, Lockheed (ticker: LMT) would use its control of Aerojet (AJRD), which makes critical missile propulsion systems, to harm rival defense contractors and further consolidate defense markets, the FTC said in a statement.