Lockheed’s Aerojet deal gets support from 13 members of Congress – letter

September 1, 2021

By Mike Stone

WASHINGTON (Reuters) -A bipartisan group of 13 members of the U.S. Congress have sent a letter to the Pentagon supporting Lockheed Martin’s proposed acquisition of rocket engine maker Aerojet Rocketdyne, according to the letter seen by Reuters.

Shares of Aerojet rose more than 2 percent after the Reuters report as investors cheered congressional support for a deal that has run into headwinds among some lawmakers.

In July, U.S. Senator Elizabeth Warren asked the Federal Trade Commission to take a tougher look at defense industry mergers, questioning the proposal from Lockheed Martin that would allow it to buy the biggest independent maker of rocket motors, Aerojet Rocketdyne Holdings.

(Reporting by Mike Stone in Washington)