SACRAMENTO, Calif., Jan. 8, 2013 (GenCorp PR) — GenCorp Inc., headquartered in Sacramento, California, announced today that it has received a modification to the request for additional information (“Second Request”) from the Federal Trade Commission (“FTC”) in connection with the Company’s proposed acquisition of Pratt & Whitney Rocketdyne from United Technologies Corporation.
The modification excludes large and medium liquid rocket engines for launch vehicles and spacecraft from the scope of the FTC’s investigation of the proposed acquisition. United Technologies has received a similar modification to the Second Request letter it received.
At this time, the FTC’s investigation of the proposed acquisition is limited to the Liquid Divert and Attitude Control Systems (“LDACS”) businesses of the Company and United Technologies. The Company is in the process of preparing its LDACS business for sale to facilitate an expeditious completion of the FTC’s investigation.
The Company expects to continue working cooperatively with the FTC as it conducts its review of the proposed acquisition.
Completion of the transaction is subject to the satisfaction of customary closing conditions, including required regulatory approvals. The Company expects the acquisition to close in the first half of 2013.
GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company’s excess real estate assets. Aerojet is a world-recognized aerospace and defense leader providing propulsion and energetics to its space, missile defense, strategic, tactical missile and armaments customers throughout domestic and international markets. Additional information about GenCorp and Aerojet can be obtained by visiting the companies’ websites at http://www.GenCorp.com and at http://www.Aerojet.com.