Aerojet Rocketdyne Holdings, Inc. (AJRD) stock is trading 19% lower ion the news of Federal Trade Commission blocking Lockheed Martin Co's (LMT) $4.4 billion acquisition of the company.
In their lawsuit, the FTC has argued that Aerojet is one of the major suppliers of parts to other defence contractors such as Raytheon Technology (RTX), Northrop Grumman Corp. (NOC) and Boeing Co. (BA). The acquisition can lead to harm the rivalry in the industry.
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