2023-06-06 08:56:59 ET
L3Harris ( NYSE: LHX ) is scheduled to meet with Dept. of Defense officials this week as it tries to gain support for its planned $4.7 billion acquisition of Aerojet Rocketdyne ( NYSE: AJRD ).
This week's meeting is one of several scheduled with the DoD, who is said to have a "middle of the road" stance on the pending deal, according to a Dealreporter item on Tuesday, which cited sources familiar. The DoD, after consulting with the White House, will eventually give its review to the Federal Trade Commission.
The latest update comes after Dealreporter Thursday said that Aerojet ( AJRD ) certified substantial compliance with the FTC in late May on the deal. L3Harrix ( LHX ) is set to certify by mid-June.
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.
More on Aerojet and L3Harris
- Aerojet Rocketdyne: Just A Hold
- Aerojet Rocketdyne: Expect The L3Harris Deal To Close
- Why Buy L3Harris As Shares Dip Lower
For further details see:
L3Harris expected to meet with Defense Dept. this week on Aerojet deal - report