Lockheed Deal With Aerojet Is in Jeopardy as FTC Files Suit (2)

U.S. antitrust regulators sued to block Lockheed Martin Corp.’s $4.4 billion purchase of Aerojet Rocketdyne Holdings Inc., signaling that the Biden administration will get tough on deals that could reduce defense industry competition.

Lockheed executives said they are deciding whether to fight the government’s move or rework their strategy for using Aerojet’s propulsion systems in developing hypersonic weapons -- a critical U.S. defense imperative.

“This deal would give Lockheed the ability to cut off other defense contractors from the critical components they need to build competing missiles,” Holly Vedova, head of the FTC’s Bureau of Competition, said in ...