Aerospace and defense company L3Harris Technologies on Wednesday said it was informed that the U.S. Federal Trade Commission would not block its $4.7 billion deal for Aerojet Rocketdyne .
The company also raised its full-year forecasts for revenue and profit as the Ukraine war drives up demand for defense equipment.the Defense Department to thoroughly review the proposed deal, saying it could impact the operations of Lockheed Martin, Raytheon and Boeing - all of which depend on products that only Aerojet is able to produce.
L3Harris, which announced it would buy Aerojet in December, said it expects to close the deal on or about July 28. The FTC did not immediately respond to a Reuters request for comment. On Wednesday, L3Harris raised its annual revenue forecast to between $18 billion and $18.3 billion, from $17.4 billion to $17.8 billion estimated earlier.
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