Lockheed Martin pulls plug on Aerojet Rocketdyne buy

US aerospace and defence prime Lockheed Martin has terminated its agreement to acquire Aerojet Rocketdyne Holdings Inc for $4.4bn, the company announced earlier this month. The decision to drop the deal came after the US Federal Trade Commission (FTC) initiated a lawsuit on January 25 seeking to block the acquisition on anti-trust grounds. Aerojet Rocketdyne provides the propulsion system for Lockheed Martin's Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE) missile, the enhanced version of the proven PAC-3 system. White