Lockheed Martin, the world’s largest defense contractor by revenue, makes these F-35B Lightning II combat aircraft.



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katia christodoulou/Shutterstock

Lockheed Martin Corp.


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said Tuesday that federal antitrust enforcers have rejected its proposed terms to close the $4.4 billion purchase of Aerojet Rocketdyne Holdings Inc. this month.

Lockheed Martin, the world’s largest defense contractor by revenue, said it was “highly likely” that the Federal Trade Commission would sue before Jan. 27 to block its proposed deal for Aerojet, which makes engines for rockets and missiles.

The FTC had no immediate comment.

Lockheed Martin agreed to buy Aerojet in December 2020, but has faced opposition from some defense contractors concerned about the future availability of the rocket motors. Lockheed Martin said it still supported the planned deal, and could decide to challenge any FTC suit or terminate the planned deal.

Aerojet Rocketdyne said it continued to support the proposed deal.

Write to Doug Cameron at doug.cameron@wsj.com

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