Lockheed's Aerojet deal gets support from 13 members of Congress – letter

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WASHINGTON (Reuters) -A bipartisan group of 13 members of the U.S. Congress have sent a letter to the Pentagon supporting Lockheed Martin (NYSE:LMT)’s proposed acquisition of rocket engine maker Aerojet Rocketdyne, according to the letter seen by Reuters.

Shares of Aerojet rose more than 2 percent after the Reuters report as investors cheered congressional support for a deal that has run into headwinds among some lawmakers.

In July, U.S. Senator Elizabeth Warren asked the Federal Trade Commission to take a tougher look at defense industry mergers, questioning the proposal from Lockheed Martin that would allow it to buy the biggest independent maker of rocket motors, Aerojet Rocketdyne Holdings (NYSE:AJRD).