FTC Delays Decision on Lockheed Martin’s $4.4 Billion Acquisition

The U.S. Federal Trade Commission (FTC), which supervises mergers to ensure they comply with antitrust law, has delayed its voting for Lockheed Martin’s $4.4 billion acquisition of Aerojet Rocketdyne for up to two weeks. The vote initially had been scheduled for this week, but FTC needs more time to evaluate the terms.

Critics of the deal, especially Lockheed’s competitors, have argued that it would give Lockheed a dominant market position in rocket motors, an important piece of the missile industry. It is used in a range of products from defensive missile systems to Stinger missiles. Missile maker Raytheon has been particularly critical of the acquisition.

The $4.4 billion deal announced in late 2020 is expected to reshape the competitive landscape.

Aerojet develops and manufactures liquid and solid rocket propulsion, air-breathing hypersonic engines, and electric power and propulsion for space, defense, civil and commercial applications. Most of the biggest U.S. defense corporations are among Aerojet’s customers, including Boeing, Raytheon and Lockheed Martin.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today

Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

U.S. Senate Passes Simplified Version of Chip Legislation

The U.S. Senate on Tuesday passed a simplified version of a bill that would provide billions in subsidies for the semiconductor industry. Both the Biden administration and the industry actors have been pushing the Congress to move ahead with the legislation to ease the chip supply shortage that has curbed production in industries from automotive to electronics and high technology weapons. 

Nickel Prices Prompt China to Investigate Futures Brokers

China’s securities regulators are gathering information from futures brokerages about their clients’ short positions in nickel. The regulators are concerned about a possible spillover effect from rocketing nickel prices this week. After nickel prices hit records of more than $100,000 per tonne, both the London Metal Exchange (LME) and the Shanghai Futures Exchange (SFE) had to intervene and suspend trading. 

Ford, Hyundai Considering EV Operations in Indonesia

Indonesia is in talks with Ford and Hyundai to establish electric vechicle (EV) operations in the Southeast Asian country, Indonesian Coordinating Minister for Economic Affairs, Hartarto said during his visit to Washington D.C. He added that discussions with Hyundai and South Korean battery maker LG Energy Solution continue over battery and EV investments. 

Stay informed

error: This content is protected !!