Lockheed steps back from US $4.4 billion deal to buy Aerojet

Lockheed Martin Corporation announced it has terminated its agreement to acquire Aerojet Rocketdyne after a lawsuit filed last month by the U.S. Federal Trade Commission (FTC) seeking a preliminary injunction to block the acquisition.

The company said the acquisition would have benefitted the industry “through greater efficiency, speed, and significant cost reductions for the U.S. government.”