Lockheed Martin, a global security and aerospace company, terminated the $4.6bn acquisition of Aerojet Rocketdyne, an American rocket and missile propulsion manufacturer. "Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the US government. However, we determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders. We stand by our long heritage as a merchant supplier and trusted partner and will continue to support Aerojet Rocketdyne and other essential suppliers in the Defense Industrial Base still overcoming the challenges of the pandemic," James Taiclet, Lockheed Martin Chairman, President and CEO.