LMT - Aerojet L3Harris going forward with transition as the await for regulators - report

2023-07-11 11:39:57 ET

Executives from L3Harris ( NYSE: LHX ) and Aerojet Rocketdyne ( NYSE: AJRD ) are in Florida this week working on transition planning as the companies wait for the Federal Trade Commission to decide on their combination.

L3Harris ( LHX ) is targeting a close in the first week of August for the $4.7 billion purchase of Aerojet ( AJRD ), according to a Dealreporter item on Tuesday, which cited sources familiar. Similar planning meetings occurred when Lockheed Martin ( LMT ) attempted to purchase Aerojet, a deal that was blocked by the FTC.

The report comes after a Reuters story earlier Tuesday that Senator Elizabeth Warren (D-MA)  and three other lawmakers are urging the Defense Department to review the Aerojet ( AJRD ) deal. Aerojet ticked down 0.6% amid the Reuters item.

A bipartisan group of more than 30 members of Congress signed off on a letter to the Secretary of Defense supporting the Aerojet ( AJRD ) deal, according to reports by Dealreporter and CTFN last month.

More on Aerojet/L3Harris

• L3Harris certifies compliance with FTC on Aerojet planned acquisition - report
• Lockheed Martin said to voice worries about L3Harris purchase of Aerojet
• L3Harris expected to meet with Defense Dept. this week on Aerojet deal - report
• Aerojet Rocketdyne: Just A Hold
• Aerojet Rocketdyne: Expect The L3Harris Deal To Close

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