Aerojet Rocketdyne ( NYSE: AJRD ) fell 1% amid a new push from Sen. Elizabeth Warren (D-MA) for the Federal Trade Commission to block L3Harris's ( NYSE: LHX ) planned acquisition of the rocket maker. L3Harris jumped 7.5% post Q4 results.
“This deal between Aerojet and L3Harris would reduce competition in the shrinking defense industry to a new low, and I encourage the FTC to oppose this dangerous transaction,” Warren wrote in a letter to FTC Chairwoman Lina Khan as well as two Democrats on the commission, according to an AirForce Times report.
Warren also wants the antitrust regulator to unwind Northrop Grumman's ( NOC ) 2018 purchase of Ortital ATK, according to the report.
The Warren letter 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 in February.
Warren has been busy trying to block deals in recent days and months. Warren wrote a letter to the FTC on Thursday expressing her concerns about Amgen's ( AMGN ) plan to buy Horizon Therapeutics ( HZNP ) and Indivior's plan to buy Opiant Pharmaceuticals ( OPNT ).
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Aerojet ticks lower amid Sen. Elizabeth Warren call for FTC to block L3Harris deal