The Pentagon submitted secret details about the $4.7 billion sale to the FTC.
Senator Elizabeth Warren of Massachusetts recently sent a letter to Defense Secretary Lloyd Austin, requesting greater clarity into the Pentagon’s role in brokering the merger of two weapons contractors.
In July, L3 Harris Technologies purchased Aerojet Rocketdyne for $4.7 billion. A few weeks prior to the merger, the Pentagon submitted undisclosed information to the Federal Trade Commission, leading to the commission’s approval of the large purchase.
“It is imperative that the public be informed about potential conditions of the deal, what enforcement and oversight mechanisms exist to enforce promises made by L3Harris about the deal, and what information the DoD provided to the Federal Trade Commission,” Senator Warren, joined by Representatives John Garamendi and Mark Pocan, wrote to Secretary Austin. They requested a response from the Pentagon by September 27.
As the Lord Leads, Pray with Us…
- For Secretary Lloyd Austin as he considers the request to review the merger.
- For Senator Warren and Representatives Garamendi and Pocan as they request further details from the Pentagon.
- For members of the Federal Trade Commission as they determine whether or not to approve mergers of large companies.
Sources: Reuters, Defense News
