Why Aerojet Rocketdyne Shares Are Falling

Aerojet Rocketdyne Holdings Inc AJRD shares are trading lower by 18.5% at $36.72 Tuesday afternoon after the FTC sued to block the proposed merger with Lockheed Martin LMT.

Earlier this month, Lockheed Martin and Aerojet Rocketdyne agreed with the Federal Trade Commission (FTC) to not close the transaction before Jan. 27, 2022.

Aerojet Rocketdyne manufactures aerospace and defense products and systems. It produces driving and launch systems for defense and space applications, weapons, and weapons systems for tactical missions.

Aerojet Rocketdyne has a 52-week high of $53.34 and a 52-week low of $36.50.