L3Harris Chairman & CEO Chris Kubasik announced in December that his company would seek to merge with Aerojet Rocketdyne. The last time a company–Lockheed Martin–sought to acquire rocket-engine maker Aerojet, it was rebuffed by federal regulators. This time is likely to go differently. The L3Harris bid does not involve horizontal or vertical integration. L3Harris is a fraction of Lockheed’s size, and more credible as a merchant supplier of rocket engines to the marketplace. And the two companies can make a convincing case that their combination would bolster competition in the defense market. I have written a commentary for Forbes here.
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