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Thursday, January 26, 2023

Defense contractor L3Harris plans to buy Aerojet Rocketdyne for $4.7B | Fox Business

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L3Harris Technologies Inc., a military company, announced on Sunday that it has agreed to purchase Aerojet Rocketdyne Holdings Inc. in a $4.7 billion deal, solidifying L3Harris’ position as one of the Pentagon’s six top defense contractors. 

A significant manufacturer of missile engines, including the Javelin used in Ukraine, is Aerojet. Additionally, it supplies fuel for US military hypersonic devices intended to thwart China’s military buildup as well as National Aeronautics and Space Administration rockets. Following a contentious internal board conflict, Aerojet was relisted for sale after federal regulators filed a lawsuit in January to stop Lockheed Martin Corp.’s proposed $4.4 billion acquisition of the company on antitrust grounds. 

Source: https://www.foxbusiness.com/markets/defense-contractor-l3harris-plans-buy-aerojet-rocketdyne-4-7-billion 

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