L3Harris To Acquire Aerojet Rocketdyne In $4.7 Bln Deal

(RTTNews) - L3Harris Technologies (LHX) said Sunday that it agreed to acquire Aerojet Rocketdyne Holdings Inc. (AJRD) for $58 per share, in an all-cash transaction valued at $4.7 billion, inclusive of net debt.

L3Harris noted that the cash acquisition will be funded with existing cash and the issuance of new debt. The deal is expected to close in 2023.

Aerojet Rocketdyne currently generates about $2.3 billion in annual revenue.

L3Harris noted that Aerojet has a 100-year heritage of excellence delivering some of the most significant moments in space exploration and discovery, while leading the industry with investments in rocket propulsion that support America's warfighters and enhance integrated deterrence.