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Lockheed Martin ended its bid to buy Aerojet Rocketdyne after the Federal Trade Commission sued to block the $4.4 billion deal on the grounds it would hurt competition among defense contractors.
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Raytheon to challenge Lockheed’s takeover of Aerojet, CEO says Raytheon Technologies chief executive Greg Hayes. (Raytheon) “They [Aerojet Rocketdyne] 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. And also, I think it gives us pause as we think about the competitive landscape going forward,” Hayes said at the Barclays Industrial Select virtual conference. If the deal is completed, Raytheon and Boeing would see a top competitor absorb a key supplier of solid-fuel rocket motors used in Raytheon’...