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FTC narrows takeover GenCorp investigation

Jan. 10, 2013 at 11:54 AM

SACRAMENTO, Jan. 10 (UPI) -- The U.S. Federal Trade Commission has modified its request for information from GenCorp Inc. over the proposed acquisition of Pratt & Whitney Rocketdyne.

The modified second request narrows the scope of the agency's investigation by excluding large and medium liquid rocket engines for launch vehicles and spacecraft from information required by the agency before it approves or rejects the acquisition.

United Technologies Corp., parent company of Pratt & Whitney Rocketdyne, has received a similar modification on required information.

"At this time, the FTC's investigation of the proposed acquisition is limited to the Liquid Divert and Attitude Control Systems businesses of the company and United Technologies," GenCorp said in announcing the modification. "The company is in the process of preparing its LDACS business for sale to facilitate an expeditious completion of the FTC's investigation."

The FTC investigation is part of the process for regulatory approval of the proposed acquisition, which is expected to close in the first half of this year.

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