Raytheon Technologies Corp. will contest the acquisition of Aerojet Rocketdyne Holdings Inc. by Lockheed Martin Corp., according to media reports.
In a story published Wednesday by Bloomberg, Raytheon Chief Executive Greg Hayes was quoted as saying that the deal gives them pause based on competition going forward.
“They (Aerojet) are a huge supplier to us, and if that merger actually happens, you don’t have an independent supplier on the solid-rocket-motor side,” Hayes said on Wednesday at the Barclays Industrial Select virtual conference, according to the Bloomberg story.
Lockheed in Bethesda, Md., announced back in December it was acquiring Aerojet Rocketdyne in El Segundo in a transaction valued at $5 billion.
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FILE PHOTO: A RAF Lockheed Martin F-35B fighter jet taxis along a runway after landing at the Royal International Air Tattoo at Fairford, Britain July 8, 2016. REUTERS/Peter Nicholls
WASHINGTON (Reuters) - Antitrust regulators will likely lengthen their investigation into Lockheed Martin Corp’s proposed purchase of rocket maker Aerojet Rocketdyne Holdings Inc, industry executives said, since the deal would give the No. 1 defense contractor ownership of a vital piece of the U.S. missile industry.
The $4.4 billion dollar deal, announced late last year, has raised eyebrows because Lockheed would take over a company that produces 70% of the solid fuel rocket motors and other propulsion products used in everything from antiballistic missiles, to air-to-air missiles.
Pay for news? Google says yes, Facebook says no
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Pay for news? Google says yes, Facebook says no
Google is striking deals in Australia to pay for journalism but Facebook vowed a news blackout if a price tag is attached. Both developments came Wednesday as Australian lawmakers consider forcing digital giants into payment agreements. Rupert Murdoch’s News Corp. announced a wide-ranging deal with Google Wednesday. Major Australian media organization Seven West Media reached a deal earlier, its rival Nine Entertainment is reportedly close to its own pact and Australian Broadcasting Corp. is in negotiations. But Facebook said it “will restrict publishers and people in Australia from sharing or viewing Australian and international news content.” The dominant social network blamed Australia’s proposed law for its decision, saying the law “fundamentally misunderstands the relationship between our platform and publishers who use it.” The News Corp. agreement includes title
Europe locked its economy in place. Unlocking it could be ugly
Europe’s enthusiasm for job-furlough programs is partly based on Germany’s experience during the 2008-09 global financial crisis
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Tom Fairless,
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For nearly a year, large swaths of Europe’s economy have been in a deep freeze.
Trillions in state-backed subsidies and inexpensive loans have kept businesses alive, while governments pay millions of furloughed workers to stay home. In much of Europe, layoffs or forced bankruptcies are banned.
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