L3Harris Acquires Aerojet Rocketdyne

L3Harris has cleared all regulatory approvals and officially acquired Aerojet Rocketdyne, the last independent US missle propulsion system supplier.

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Zac Aubert

Zac Aubert

Published: 28th Jul 2023 21:23 GMT
Written by: Zac Aubert

L3Harris has cleared all regulatory approvals and officially acquired Aerojet Rocketdyne, the last independent US missle propulsion system supplier.

“a warm welcome to Aerojet’s team of over 5,000 employees who will soon become part of L3Harris.” - Chris Kubasik, L3Harris Technologies CEO

The conclusion of the $4.7 billion agreement marks the end of a period of uncertainty for Aerojet Rocketdyne, which began in December 2020 when Lockheed Martin attempted to acquire the company for $4.4 billion. Lockheed Martin's bid was hindered by antitrust regulators, as they argued against a major supplier of tactical missiles owning a critical components provider for competing missiles. The Federal Trade Commission intervened and blocked the acquisition.

With L3Harris's acquisition of Aerojet Rocketdyne, L3Harris aims to expand its presence in civil space, strategic defense systems, and precision munitions, solidifying its position in these crucial sectors.

 

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