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L3Harris Technologies Acquires Aerojet Rocketdyne Holdings

L3Harris Technologies Acquires Aerojet Rocketdyne Holdings

Aerojet Rocketdyne Holdings, Inc. and L3Harris Technologies announced the signing of a definitive agreement for L3Harris to acquire Aerojet Rocketdyne for $58 per share in an all-cash transaction valued at $4.7 billion, inclusive of net debt. L3Harris’ second acquisition announcement in 2022.

Aerojet Rocketdyne has been in space exploration and discovery with investments in rocket propulsion.

Aerojet Rocketdyne currently generates approximately $2.3 billion in annual revenue. The cash acquisition will be funded with existing cash and new debt issuance. The deal is expected to close in 2023, subject to required regulatory approvals, clearances, and other customary closing conditions.

L3Harris’ annual revenue reaches more than $17 billion.