Lockheed Martin scraps plan to amass Aerojet Rocketdyne

Lockheed Martin Corp. on Sunday mentioned it had scrapped plans to purchase Aerojet Rocketdyne Holdings Inc. after federal antitrust overseers final month sued to dam the proposed $4.Four billion deal.

Lockheed Martin
LMT,
+2.79%
,
the world’s largest protection firm by gross sales, had hoped so as to add Aerojet’s
AJRD,
+2.76%

experience in constructing rocket motors for its personal missile and area methods, however the proposed deal drew fireplace from the Federal Commerce Fee {that a} mixture may hinder rivals.

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