2023-06-01 13:41:29 ET
- Aerojet Rocketdyne ( NYSE: AJRD ) certified substantial compliance with the Federal Trade Commission last week for its planned $4.7 billion sale to L3 Harris ( NYSE: LHX ).
- L3Harris ( LHX ) is working to complete its certification, and it is likely to be finished in several weeks, according to a Dealreporter item, that cited sources familiar with the matter.
- Aerojet ( AJRD ) and L3 Harris ( LHX ) received a request for a more in-depth review from the FTC in March. The second request comes after the FTC filed a lawsuit last January to block Lockheed Martin's ( LMT ) $4.4 billion purchase of Aerojet ( AJRD ) due to antitrust concerns. Lockheed terminated the deal last February.
- L3Harris CEO Christopher Kubasik said in late April on the company's Q1 conference call that he expected LHX to likely certify in June and Aerojet a "little earlier" given "they've already done this once."
For further details see:
Aerojet certifies compliance with FTC on L3 Harris deal - report