Lawmakers have reportedly warned against L3Harris Technologies Inc (NYSE:LHX) and Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) merger deal.
U.S. Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers, who have urged the Defense Department to review the $4.7 billion deal thoroughly, reported Reuters.
Warren and the other lawmakers stated that the Defense Department often adopts a lenient approach when advising the antitrust agencies on approving deals with a military component.
"Lockheed Martin, Raytheon, and Boeing are all dependent on products that only Aerojet is able to produce, and their operations could be hamstrung by its acquisition," they wrote, according to the report.
Price Action: LHX shares are trading higher by 0.50% at $195.62 on the last check Tuesday.
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