Lockheed drops plans to acquire Aerojet
Posted: Sat, Feb 19, 2022, 10:02 AM ET (1502 GMT)
Lockheed Martin announced Sunday night that it was dropping plans to acquire Aerojet Rocketdyne. Lockheed said that it was in "the best interest of our stakeholders" to terminate the deal after the Federal Trade Commission voted last month to sue to block it. Lockheed's decision was not surprising to many analysts, who thought the company wasn't willing to engage in an extended legal battle. Aerojet said that it would move ahead as an independent company but faces internal problems with dueling suits by its chairman, Warren Lichtenstein, and CEO Eileen Drake over control of the company.
Lockheed Martin announced Sunday night that it was dropping plans to acquire Aerojet Rocketdyne. Lockheed said that it was in "the best interest of our stakeholders" to terminate the deal after the Federal Trade Commission voted last month to sue to block it. Lockheed's decision was not surprising to many analysts, who thought the company wasn't willing to engage in an extended legal battle. Aerojet said that it would move ahead as an independent company but faces internal problems with dueling suits by its chairman, Warren Lichtenstein, and CEO Eileen Drake over control of the company.
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