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Defense Contractor L3Harris Plans to Buy Aerojet Rocketdyne for $4.7 Billion

📅 Date:

✍️ Author: Doug Cameron

🔖 Topics: Acquisition

🏢 Organizations: L3Harris, Aerojet Rocketdyne

Defense firm L3Harris Technologies Inc. said it agreed to buy Aerojet Rocketdyne Holdings Inc. in a $4.7 billion deal that would cement L3Harris’s role as one of six prime defense contractors for the Pentagon. Aerojet is a major maker of engines used in missiles, such as the Javelin deployed in Ukraine. Its products also help power National Aeronautics and Space Administration rockets and U.S. military hypersonic systems designed to deter China’s military expansion. Aerojet was put back up for sale after federal regulators in January sued to block its planned $4.4 billion purchase by Lockheed Martin Corp. on antitrust grounds, sparking a bitter internal board battle.

Read more at Wall Street Journal