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
For further details see:
Aerojet, L3Harris going forward with transition as the await for regulators - report