L3Harris Technologies Expects to Close $4.7 Billion Aerojet Deal Soon
27 July 2023 - 7:24AM
Dow Jones News
By Paul Ziobro
L3 Harris Technologies expects to complete its $4.7 billion
purchase of Aerojet Rocketdyne this week after the U.S. Federal
Trade Commission advised the defense contractor that it wouldn't
block the acquisition.
L3Harris in December agreed to buy Aerojet, which makes engines
used in missiles, to boost its heft in the defense contracting
sector.
The deal had faced scrutiny from some lawmakers, who have asked
the U.S. Defense Department to block the deal over concerns that it
would undermine competition and erode innovation. A larger group of
lawmakers, meanwhile, have supported the deal.
L3Harris said Wednesday in its earnings release that it expects
to complete the transaction on or about July 28.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
July 26, 2023 17:09 ET (21:09 GMT)
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