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Lockheed Martin Halts Merger As Foodfight Erupts Within Aerojet Rocketdyne

By Keith Cowing
February 13, 2022
Filed under ,
Lockheed Martin Halts Merger As Foodfight Erupts Within Aerojet Rocketdyne

Aerojet Chairman Sues CEO Over Control of Rocket-Engine Maker’s Board, Blooomberg
“Aerojet Rocketdyne Inc.’s chairman and three directors asked a judge to block the CEO and her allies on the board from using company resources in a fight for control of the rocket-engine maker. A lawsuit unsealed Friday revealed long-simmering tensions between Chairman Warren Lichtenstein and Chief Executive Officer Eileen Drake who are at the heart of a proxy battle launched as U.S. antitrust regulators move to block Aerojet’s $4.4 billion takeover by Lockheed Martin Corp. The dispute has left the board split between warring factions.”
Lockheed Martin Terminates Agreement To Acquire Aerojet Rocketdyne
“Lockheed Martin Corporation (NYSE: LMT) today announced it has terminated its agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD). 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.”
Aerojet Rocketdyne Positioned to Continue Driving Growth, Profitability and Value Creation — Announces Termination of Merger Agreement with Lockheed
“Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) (the “Company”) today reaffirmed its strong foundation for substantial value creation following the termination of its merger agreement with Lockheed Martin Corporation.”

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