Lawmakers Call on Pentagon to Enhance Merger Review Process

Four U.S. lawmakers have urged the Department of Defense to strengthen its review process for mergers and acquisitions and be more transparent with the public about the findings of its reviews of such transactions while ensuring the need to safeguard national security and confidential business information.

In a letter addressed to Defense Secretary Lloyd Austin and William LaPlante, undersecretary of defense for acquisition and sustainment, the lawmakers cited how excessive M&As could harm competition and innovation in the defense industrial base, Sen. Elizabeth Warren’s office said Tuesday.

Austin and LaPlante are 2023 Wash100 awardees.

The lawmakers also called on DOD to provide answers to questions related to the proposed $4.7 billion merger between L3Harris Technologies (NYSE: LHX) and Aerojet Rocketdyne (NYSE: AJRD) by July 21.

The July 9 letter was signed by Warren, D-Mass., and Reps. Chris Deluzio, D-Pa., Mark Pocan, D-Wis., and John Garamendi, D-Calif.

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