Lockheed Martin Pulls the Plug on Aerojet Rocketdyne Acquisition Deal

Lockheed Martin Corporation has declared the cessation of its pursuit to acquire Aerojet Rocketdyne Holdings, Inc. This resolution to abandon the acquisition comes in response to a lawsuit initiated by the U.S. Federal Trade Commission (FTC) last month, which aimed to secure a preliminary injunction to obstruct the deal.

“Our anticipated acquisition of Aerojet Rocketdyne was set to enhance the entire sector through improved efficiency, accelerated processes, and considerable cost savings for the U.S. government,” stated Lockheed Martin Chairman, President, and CEO James Taiclet (photo).

“Nevertheless, we concluded that considering the FTC’s measures, discontinuing the transaction serves the best interests of our stakeholders. We remain committed to our long-standing legacy as a reliable supplier and esteemed partner, and we will continue to aid Aerojet Rocketdyne along with other vital suppliers within the Defense Industrial Base who are still navigating the repercussions of the pandemic,” he elaborated.

“As we advance, we will keep our emphasis on the most productive allocation of resources with the greatest return on investment, which includes our ongoing dedication to delivering value to shareholders. We hold confidence in our firm’s robust foundation and growth prospects as numerous compelling projects progress into production,” Taiclet remarked.

“In conclusion, I take pride in the 114,000 dedicated men and women of Lockheed Martin. They are deeply committed to providing the highest caliber and most effective solutions for our clients. We will persist in supporting the United States and its allies through our industry leadership and in developing technologically advanced systems to ensure effective threat deterrence for countless years ahead,” he wrapped up.

With its headquarters in Bethesda, Maryland, USA, Lockheed Martin Corporation is a worldwide security and aerospace enterprise that employs around 114,000 individuals globally. It primarily focuses on the research, design, development, manufacturing, integration, and maintenance of advanced technology systems, products, and services.