BETHESDA, Md., - Lockheed Martin Corp said on Sunday it has agreed to buy U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings Inc for $4.4 billion, including debt and net cash, Mike Stone reports for Reuters. Continue reading original article.
The Intelligent Aerospace take:
December 22, 2020 -Lockheed Martin expects the acquisition of Aerosjet Rocketdyne to close in the second half of 2021.
"Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer," said James Taiclet, Lockheed Martin president and CEO. "This transaction enhances Lockheed Martin's support of critical U.S. and allied security missions and retains national leadership in space and hypersonic technology. We look forward to welcoming their talented team and expanding Lockheed Martin's position as the leading provider of 21st century warfare solutions."
“As part of Lockheed Martin, we will bring our advanced technologies together with their substantial expertise and resources to accelerate our shared purpose: enabling the defense of our nation and space exploration,” Aerojet’s CEO Eileen Drake said in a statement.
Jamie Whitney, Associate Editor