RTTNews | Jan 25, 2022 01:27PM EST

13:26 Tuesday, January 25, 2022 (RTTNews.com) - Aerojet Rocketdyne Holdings, Inc. (AJRD) stock is trading 19% lower ion the news of Federal Trade Commission blocking Lockheed Martin Co's (LMT) $4.4 billion acquisition of the company.

In their lawsuit, the FTC has argued that Aerojet is one of the major suppliers of parts to other defence contractors such as Raytheon Technology (RTX), Northrop Grumman Corp. (NOC) and Boeing Co. (BA). The acquisition can lead to harm the rivalry in the industry.

The stock is currently trading at $36.91, down $8.09 or 17.98% since the previous close at $45.00. The stock opened at $38.50 in the morning and in the previous 52-weeks, the stock has ranged between $36.51 and $53.34 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3257124/aerojet-rocketdyne-plunges-19-on-blocked-acquisition.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com All Rights Reserved