(Reuters) – U.S. arms maker Lockheed Martin Corp said on Sunday it terminated its plan to acquire rocket engine maker Aerojet Rocketdyne Holdings Inc for $4.4 billion.
The move comes after the U.S. Federal Trade Commission, last month, voted unanimously to sue to block the deal over antitrust concerns.
The merger, which was announced in late 2020, drew critisism as it would give Lockheed a dominant position over solid fuel rocket motors — a vital piece of the U.S. missile industry.
(Reporting by Anirudh Saligrama in Bengaluru; editing by Diane Craft and Kim Coghill)