Northrop Grumman Asks FTC to Lift 2018 Orbital ATK Acquisition Restrictions
NOC sits 58% above its 52-week low of $450.13.
Summary
Northrop Grumman has petitioned the Federal Trade Commission (FTC) to terminate a 2018 consent order related to its $7.8 billion acquisition of Orbital ATK. The original order imposed non-discrimination and information protection obligations due to concerns about a duopoly in the solid rocket motor (SRM) market. Northrop Grumman argues that the SRM market has since evolved with new entrants and increased competition, rendering the order unnecessary and non-harmful to competition. If approved, lifting these restrictions could provide Northrop Grumman with greater operational flexibility and potentially enhance its competitive position in the SRM market. Investors should monitor the FTC's review process, which includes a 30-day public comment period, for a decision on this significant regulatory development.
At the time of this announcement, NOC was trading at $710.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $99.7B. The 52-week trading range was $450.13 to $774.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.