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Business/Financial

Justice Department, FTC Issue Statement Justifying Close Watch On Defense Industry Consolidation

Tuesday, April 12th, 2016

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Justice Department, FTC Issue Statement Justifying Close Watch On Defense Industry Consolidation

Norway's first F-35A, called AM-1, is in production at the Lockheed Martin Fort Worth, Texas assembly plant. Photo: Lockheed Martin.

The Department of Justice and the Federal Trade Commission (FTC) have issued a joint statement explaining the need to police mergers of defense firms to preserve competition and ensure the military and taxpayers are getting the best deals on weapons.Both departments perform watchdog duties for mergers and acquisitions in all industries, but take particular care in overseeing defense industry consolidations.“Competition is the essential ingredient that leads to high-quality products at lower prices,” said Chairwoman Edith Ramirez of the Federal Trade…

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