Lockheed Martin Terminates Agreement to Acquire Aerojet Rocketdyne
February 14, 2022 | PRNewswireEstimated reading time: 1 minute
Lockheed Martin Corporation announced it has terminated its agreement to acquire Aerojet Rocketdyne Holdings, Inc. The decision to terminate the agreement follows the U.S. Federal Trade Commission's (FTC) lawsuit filed late last month seeking a preliminary injunction to block the acquisition.
"Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government," said Lockheed Martin Chairman, President and CEO James Taiclet. "However, we determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders. We stand by our long heritage as a merchant supplier and trusted partner and will continue to support Aerojet Rocketdyne and other essential suppliers in the Defense Industrial Base still overcoming the challenges of the pandemic.
"Moving forward, we will maintain our focus on the most effective use of capital with the highest return on investment, including our ongoing commitment to return value to shareholders. We remain confident in our company's strong foundation and growth potential as several exciting projects enter production.
"Finally, I'm proud of the 114,000 patriotic men and women of Lockheed Martin. They have a principled commitment to deliver the highest quality and most effective solutions to our customers. We will continue to support the United States and its allies through our industry leadership and developing the technologies to ensure effective threat deterrence for decades to come."
Suggested Items
IPC APEX EXPO 2024: LPKF—Debunking Depaneling Industry Perceptions
03/27/2024 | Nolan Johnson, I-Connect007In this audio interview, listen to Jake Benz discuss advances in laser depaneling at LPKF. Thanks to advances in laser technology, perceptions about laser depaneling are changing from a low-speed, specialized process to a high volume process suitable for production manufacturing. Benz elaborates on some of the development and engineering that went into creating their latest, most capable depaneling machines.
Seeking Employment: Meet Gary Turner
03/25/2024 | Barry Matties, I-Connect007Meet Gary Turner, a recent graduate from the University of Texas at Dallas with a bachelor’s degree in mechanical engineering and a master’s in material science and engineering. He is currently seeking employment in the industry. The following interview will allow you to learn about Gary and see if he might be a good candidate for a position you are looking to fill.
Marcy’s Musings: The Many Facets of Sustainability
03/21/2024 | Marcy LaRont -- Column: Marcy's Musings"We don't need to have a handful of people doing zero waste perfectly. We need a million people doing it imperfectly." —Anne Marie Bonneau (Zero Waste Chef) I borrowed this quote from the world of cooking and online influencers because it speaks to the reality of how to make a real and continuous impact when large-scale change is ultimately needed. We’re all doing things to further economic and environmental sustainability within our organizations, and we’re likely operating on a spectrum that ranges from doing nothing to doing it all perfectly.
Sustainability Explored in the March Issue of PCB007 Magazine
03/20/2024 | I-Connect007 Editorial TeamSustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts of this hot topic in the March 2024 issue of PCB007 Magazine.
Connect the Dots: Are You Ready for 2024?
03/07/2024 | Matt Stevenson -- Column: Connect the DotsAfter an eventful 2023, we are excited to begin 2024 with new partners, challenges, and opportunities. I see 2023 as one of the most exciting and significant years at Sunstone Circuits since I began my career with the organization. We joined forces with American Standard Circuits (ASC), an organization that excels in producing ultra HDI, metal-backed/core, RF/microwave, flex, and rigid-flex PCBs for diverse industries.