L3Harris to acquire Aerojet Rocketdyne in $4.7 billion transaction
NewsDecember 19, 2022
MELBOURNE, Fla. L3Harris Technologies has agreed to acquire Aerojet Rocketdyne Holdings (El Segundo, California) in an all-cash transaction valued at $4.7 billion, inclusive of net debt; the deal is expected to finalize in 2023, pending regulatory approvals.
The L3Harris announcement noted Aerojet Rocketdyne's century-long history of delivering some of the most significant moments in space exploration and discovery, along with its industry position making investments in rocket propulsion that support U.S. warfighters and enhance integrated deterrence.
The acquisition, L3Harris officials said, will ensure the strength of the defense industrial base and the availability of a merchant supplier that can effectively address both current and emerging threats – and promote scientific discovery and innovation – through targeted investment in advanced missile technologies, hypersonics, and more.
The L3Harris deal comes two years after Lockheed Martin tried to buy Aerojet Rocketdyne; that unsuccessful $4.4 billion attempt was blocked by antitrust regulators in early 2022.
