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Lockheed Martin Corp. on Sunday said it had scrapped plans to buy Aerojet Rocketdyne Holdings Inc. after federal antitrust overseers last month sued to block the proposed $4.4 billion deal.
Lockheed Martin
LMT,
the world’s largest defense company by sales, had hoped to add Aerojet’s
AJRD,
expertise in building rocket motors for its own missile and space systems, but the proposed deal drew fire from the Federal Trade Commission that a combination could hinder rivals.
