GenCorp Plans Sale To Speed FTC Rocketdyne Bid Probe

Law360, New York (January 9, 2013, 4:04 PM EST) -- GenCorp Inc. plans to sell part of its control systems business now that the Federal Trade Commission has pared down its antitrust review of the California aerospace giant's $550 million bid for United Technologies Corp.'s Rocketdyne unit, the company said Tuesday.

The FTC modified the second requests it issued to both companies for more information about the deal, which would send UTC's Pratt & Whitney Rocketdyne engineering unit to GenCorp, the company said.

The investigation now no longer covers the companies' manufacture of large and medium...
To view the full article, register now.