U.S. clears GenCorp, Rocketdyne deal at request of Defense Dept

WASHINGTON, June 10 Mon Jun 10, 2013 2:52pm EDT

WASHINGTON, June 10 (Reuters) - Aerospace company GenCorp Inc has been given U.S. antitrust approval to buy rocket engine manufacturer Pratt & Whitney Rocketdyne, the Federal Trade Commission said on Monday.

The FTC said that it approved the deal even though it would give GenCorp a monopoly in the market for a certain type of high-performance missile defense interceptor propulsion system, because the Defense Department wanted to see the transaction go forward.

The deal is worth about $550 million.

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