An interesting report on the internecine battle within the company in the wake of the FTC disallowing the acquisition by Lockmart. I found this amusing:

Aerojet has traditionally structured itself as an engineering company with high fixed costs and low margins, Thompson said. But if private equity buys the company, it will want to see more robust financial returns, which could come at the cost of innovation.

“This really comes down to whether the financial interests or the engineering interests within Aerojet prevail in the struggle,” he said. “My heart is with the engineering interests. My brain, which knows the history of these types of struggles, assumes the financial interests will ultimately prevail.”

Yes, for me, the first word that comes to mind when I hear the word “Aerojet” is “innovation.” Not.