(Editor's Note: This story was updated at 3:00 p.m. to reflect a statement from a Pentagon spokesman.) The Justice Department and the Federal Trade Commission issued a joint statement Tuesday reaffirming that existing policy regulating defense industry consolidation is "sufficiently flexible," months after Frank Kendall, the Pentagon's acquisition chief, announced he was seeking greater government authority to review proposed merger-and-acquisition activity in the defense sector. Kendall had wanted the Defense Department to have a greater "basis for review" regarding...
