US Senator Warren Warns Against L3Harris' Purchase Of Aerojet: Report
Portfolio Pulse from Akanksha Bakshi
US Senator Elizabeth Warren and three other lawmakers have warned against the merger deal between L3Harris Technologies Inc (LHX) and Aerojet Rocketdyne Holdings, Inc. (AJRD), urging the Defense Department to thoroughly review the $4.7 billion deal. Lockheed Martin Corp's (LMT) COO, Frank St John, expressed concerns over access to rocket motors, fair pricing, and IP protections. The lawmakers also noted that Lockheed Martin, Raytheon, and Boeing are dependent on products that only Aerojet can produce.
July 11, 2023 | 4:09 pm
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NEGATIVE IMPACT
Aerojet's proposed merger with L3Harris is facing opposition from lawmakers, which could affect the deal.
The lawmakers' opposition to the merger could potentially delay or even halt the deal, which would negatively impact Aerojet's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
L3Harris Technologies' proposed acquisition of Aerojet is under scrutiny from lawmakers, which could potentially impact the deal.
The lawmakers' opposition to the merger could potentially delay or even halt the deal, which would negatively impact L3Harris' stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lockheed Martin, a major customer of Aerojet, has expressed concerns over the proposed merger between Aerojet and L3Harris.
As a major customer of Aerojet, Lockheed Martin could potentially face supply disruptions if the merger goes through, which could negatively impact its operations and stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80