FTC lawsuit cripples Lockheed bid for Aerojet
Aerojet Rocketdyne is involved in multiple DoD programmes such as the Ground-Based Midcourse Defense system (pictured). (Photo: Aerojet Rocketdyne)
Lockheed Martin has officially withdrawn its bid to buy missile propulsion systems specialist Aerojet Rocketdyne Holdings.
Lockheed Martin on 14 February admitted defeat in its attempted $4.4 billion acquisition of Aerojet Rocketdyne Holdings.
‘The decision to terminate the agreement follows the US Federal Trade Commission's (FTC) lawsuit filed late last month seeking a preliminary injunction to block the acquisition,’ Lockheed Martin announced.
‘Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the US government,’ said Lockheed Martin chairman, president and CEO James Taiclet. ‘However, we determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders.’
Northrop Grumman is the only rival to Aerojet in meeting DoD requirements to supply solid-fuel rocket motors for missile systems, hypersonic cruise missiles and supersonic combustion ramjets.
You may also like
More from Defence Notes
-
![Spain unveils new multi-billion euro defence investment plan]()
Spain unveils new multi-billion euro defence investment plan
The new plan outlined how Spain would reach 2% of its GDP spend on defence by 2025, with €1.9 billion earmarked for new equipment acquisition with several land, naval and air platforms disclosed to be replaced or upgraded.
-
![New Zealand boosts defence spend to US$6.6 billion and vows increased closeness with Australia]()
New Zealand boosts defence spend to US$6.6 billion and vows increased closeness with Australia
This budget will be spent over the next four years and nearly doubles the country’s defence spending as part of GDP to 2%.
-
![UK Chancellor commits £2 billion to make the country a “defence industrial superpower”]()
UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
Rachel Reeves announced port upgrades, protected budgets for innovation and investment in novel technologies.
-
![Avalon 2025: Australian defence budget meets the low expectations of show attendees]()
Avalon 2025: Australian defence budget meets the low expectations of show attendees
The Australian Budget was marked by tax cuts and a looming general election which led to little hope that there would be a substantial defence boost even with a big bill for nuclear submarines due.
-
![Launch of Gilat Defense targets DoD market]()
Launch of Gilat Defense targets DoD market
The communications company Gilat launched its new Gilat Defense division at the Satellite 2025 expo, with future solutions aimed at US military customers.
