In the Matter of Lockheed/Aerojet


The FTC retained Cornerstone Research in its review of this proposed merger.

Retained by the Federal Trade Commission

The Federal Trade Commission issued a complaint alleging that Lockheed Martin Corporation’s proposed acquisition of Aerojet Rocketdyne Holdings Inc. would harm competition. The FTC retained Cornerstone Research to support William Rogerson of Northwestern University.

The FTC alleged that the proposed vertical integration would harm rival defense contractors and further consolidate multiple markets critical to national security and defense. In February 2022, the parties announced that they were abandoning the proposed merger.

For more information, contact Kivanc Kirgiz or Emre Uyar.

Case Expert

William P. Rogerson

Charles E. and Emma H. Morrison Professor of Economics,
Northwestern University