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GenCorp Receives Modification to FTC's Second Request in Connection With the Proposed Acquisition of Pratt & Whitney Rocketdyne



GenCorp Receives Modification to FTC's Second Request in Connection With the
Proposed Acquisition of Pratt & Whitney Rocketdyne

SACRAMENTO, Calif., Jan. 8, 2013 (GLOBE NEWSWIRE) -- GenCorp Inc. (NYSE:GY),
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 (NYSE:UTX). 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.

Forward-Looking Statements

This press release contains "forward-looking statements" as that term is
defined in the U.S. Private Securities Litigation Reform Act of 1995. No
forward-looking statement can be guaranteed, and actual results may differ
materially from those projected depending on a number of risks, uncertainties
and other factors such as business climate, economic and competitive
uncertainties, adverse legal and regulatory developments, and adverse changes
in economic and political climates around the world. Such risks, uncertainties
and other factors include, among other things: the possibility that the
expected efficiencies and cost savings from the proposed transaction will not
be realized, or will not be realized within the expected time period; the
ability to obtain governmental approvals of the transaction on the proposed
terms and schedule contemplated by the parties; and the possibility that the
proposed transaction does not close, including, but not limited to, due to the
failure to satisfy the closing conditions. Forward-looking statements in this
document should be evaluated together with the many factors that affect
GenCorp's business as described in more detail in GenCorp's Form 10-K for the
year ended November 30, 2011, and any subsequent quarterly reports on Form
10-Q and current reports on Form 8-K filed with the U.S. Securities and
Exchange Commission.

About GenCorp

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.

The GenCorp Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=12049

CONTACT: Investors:
         Kathy Redd, chief financial officer
         916.355.2361
        
         Media:
         Glenn Mahone, vice president, communications
         202.302.9941

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