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 by AFP Staff Writers New York (AFP) Feb 14, 2022
US defense company Lockheed Martin has given up its $4.4 billion takeover of propulsion systems manufacturer Aerojet Rocketdyne after regulators sued to stop the deal. In a statement released Sunday, Lockheed Martin cited the lawsuit filed by the Federal Trade Commission (FTC) in late January as the reason for abandoning the deal, which the FTC argued would lead to higher costs on defense systems. "Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed and significant cost reductions for the US government," James Taiclet, chairman, president and CEO of Lockheed Martin, said in a statement. "However, we determined that in light of the FTC's actions, terminating the transaction is in the best interest of our stakeholders." The FTC complaint was the first time in decades the competition regulator opposed a deal in the defense sector. In its own statement, Aerojet said, "We are confident in our future performance with an impressive backlog that is more than three times the size of our annual sales and a strong macroeconomic environment underpinning our portfolio." jum/spi/cs/hs
Indonesia to buy US, French warplanes as Paris boosts Asia alliances Jakarta (AFP) Feb 10, 2022 Indonesia on Thursday ordered 42 Rafale fighter jets from France and may acquire two French submarines, while the United States approved Jakarta's potential purchase of 36 F-15s in the face of growing tensions in the Asia-Pacific. Indonesia's first order for French warplanes comes as Jakarta replaces an ageing fleet - consisting mainly of American F-16s and Russian Sukhois - as concerns grow about rising US-China tensions in Asia. The Rafale agreement was announced as Indonesian Defence Minist ... read more
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