Lockheed scraps $4.4 bn deal to buy Aerojet amid regulatory roadblocks

Lockheed's Chief Executive said the acquisition would have improved efficiency, speed and cut costs for the US government, but that terminating the agreement was in its stakeholders' best interest

U.S. arms maker Lockheed Martin Corp called off plans on Sunday to acquire rocket engine maker Aerojet Rocketdyne Holdings Inc for $4.4 billion amid opposition from U.S. antitrust enforcers.

The Federal Trade Commission sued to block the deal in late-January on the grounds that it would allow Lockheed to use its control of Aerojet to hurt other defense contractors. Missile maker Raytheon Technologies was an outspoken opponent of the proposed acquisition.

The merger, which was announced in late 2020, drew criticism as it would give Lockheed a dominant position over solid fuel rocket motors -- a vital piece of the