US FTC postpones vote on Lockheed Aerojet for two weeks

The vote was originally scheduled for the middle of the week, one of those people said, adding that the extension would give the FTC more time to assess the terms of the merger.

These people spoke on condition of anonymity. A Lockheed Martin spokesperson declined to comment. The FTC did not immediately respond to a request for comment.

The deal drew criticism for giving Lockheed – the number 1 defense – a dominant position in a vital part of the US missile industry. Rocket motors are used in everything from homeland defense missile shields to Stinger missiles. Missile maker Raytheon has openly opposed the proposed deal.

The $ 4.4 billion deal announced in late 2020 is Lockheed’s first major acquisition under the leadership of new chief executive Jim Taiclet, and it would reshape the competitive landscape for solid rocket missiles used with jet planes and drones.

Aerojet develops and manufactures liquid and solid rocket propulsion systems, aerobic hypersonic engines, as well as propulsion and power systems for space, military, civil and commercial applications. Its clients include the Pentagon, NASA, Boeing, Lockheed Martin, Raytheon Technologies and United Launch Alliance.

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