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Raytheon to challenge Lockheed acquisition of Aerojet Rocketdyne
Posted: Fri, Feb 19, 2021, 6:53 PM ET (2353 GMT)
Raytheon says it will challenge Lockheed Martin's acquisition of Aerojet Rocketdyne. Raytheon CEO Gregory Hayes said at an investor conference Wednesday that his company has "some concerns" about Aerojet's acquisition by a company that competes with Raytheon in tactical and strategic missiles. Hayes said Raytheon will make its case to regulatory agencies, including the Federal Trade Commission and the Department of Defense. Lockheed CFO Ken Possenriede said later at the same conference that it would "play fair" as an engine supplier to competitors like Raytheon, arguing that Aerojet "is going to be a more reliable supplier" as part of Lockheed than as a standalone company.
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