The Federal Trade Commission sued to block Lockheed Martin‘s $4.4 billion acquisition of Aerojet Rocketdyne, sending Aerojet stock tumbling.
If the deal was allowed to proceed, Lockheed (ticker: LMT) would use its control of Aerojet (AJRD), which makes critical missile propulsion systems, to harm rival defense contractors and further consolidate defense markets, the FTC said in a statement.
“If consummated,…