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+--- Thread: LMT Purchase of Aerojet Rockdyne delayed (/showthread.php?tid=2149)
LMT Purchase of Aerojet Rockdyne delayed - Scooterd - 01-11-2022
For those with vested interest
Jan 11th -
The U.S. Federal Trade Commission, which assesses mergers to ensure they comply with antitrust law, has put off a vote on Lockheed Martin's purchase of Aerojet Rockdyne for as much as two weeks. The vote had initially been scheduled for midweek. FTC would like more time to evaluate terms for the merger. The $4.4 billion deal announced in late 2020 is Lockheed's first large acquisition under new Chief Executive Jim Taiclet, and would reshape the competitive landscape for solid rocket fuel missiles which are used with jets and drones.
The deal has drawn criticism because it would give Lockheed - the No. 1 defense contractor - a dominant position over a vital piece of the U.S. missile industry. Rocket motors are used in everything from the homeland defensive missile shield to Stinger missiles.
Missile maker Raytheon has been an outspoken opponent of the proposed deal.
**** Now one would think FTC had well over a year to evaluate, yet they wait till last minute. Typical!. *******
Amid today's FTC delay UBS Adjusted Lockheed Martin Price Target up to $410 From $375 and Maintained their Buy Rating.
Lockheed Martin has an average rating of Outperform and price targets ranging from $340 to $450 (Capital IQ).
- Scoot