2023-07-26 16:49:27 ET
L3Harris ( NYSE: LHX ) on Wednesday said antitrust authorities at the U.S. Federal Trade Commission won’t object to its proposed acquisition of Aerojet Rocketdyne ( NYSE: AJRD ).
“We were advised today that the FTC will not block our acquisition of Aerojet Rocketdyne; therefore, we are moving forward to close the transaction on or about July 28,” Christopher E. Kubasik, chair and CEO of L3Harris ( LHX ) said in an investor letter dated July 26.
The letter puts to rest speculation about when the $4.7 billion deal would close. Several press reports indicated that the acquisition would be completed by this week.
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, Dealreporter and CTFN reported last month.
Sen. Elizabeth Warren (D-MA) sent a letter earlier this month to Defense Secretary Lloyd Austin and others urging the Defense Department to carefully review the $4.7 billion acquisition of Aerojet ( AJRD ).
More about L3Harris & Aerojet Rocketdyne
- 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:
L3Harris receives FTC approval on Aerojet Rocketdyne acquisition