June 10, 2013 / 6:56 PM / 4 years ago

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

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below