By Paul Ziobro

L3 Harris Technologies expects to complete its $4.7 billion purchase of Aerojet Rocketdyne this week after the U.S. Federal Trade Commission advised the defense contractor that it wouldn't block the acquisition.

L3Harris in December agreed to buy Aerojet, which makes engines used in missiles, to boost its heft in the defense contracting sector.

The deal had faced scrutiny from some lawmakers, who have asked the U.S. Defense Department to block the deal over concerns that it would undermine competition and erode innovation. A larger group of lawmakers, meanwhile, have supported the deal.

L3Harris said Wednesday in its earnings release that it expects to complete the transaction on or about July 28.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

July 26, 2023 17:09 ET (21:09 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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