(Aerojet Rocketdyne) Shares of Aerojet Rocketdyne fell up to 16% on Tuesday on news that the US Federal Trade Commission had raised antitrust claims on a merger deal with Lockheed Martin.
FTC said that the concerns raised in the transaction could not be sufficiently addressed by a consent order.
Aerojet says it expects the FTC to sue the deal, with the decision expected before January 27, 2022.
Aerojet is still positive that the transaction would be beneficial to the US, the industry, and the stakeholders of the company.
Lockheed has the option to terminate the deal or defend the transaction if FTC moves to block it.
AJRD: NYSE is down -15.23%, LMT: NYSE is up +0.42%.
