TRANSDIGM ABANDONS PROPOSED ACQUISITION OF STELLANT SYSTEMS IN RESPONSE TO JUSTICE DEPARTMENT'S DECISION TO BLOCK TRANSACTION

WASHINGTON, July 13 -- The U.S. Department of Justice's Antitrust Division issued the following news release:

TransDigm Group has abandoned its attempt to acquire rival defense and industrial component manufacturer Stellant Systems. TransDigm and Stellant compete, in addition to industrial products, to supply and repair components used in radar systems for the U.S. Navy's Aegis Combat System and the U.S. Air Force's F-16 fighter jets. The acquisition would have left the Department of War with a single source for critical products, increasing supply chain risks and removing the benefits of competition.

TransDigm abandoned the transaction after the Justice Department informed the parties that it would file a lawsuit in federal court to bloc...