L3Harris to buy Aerojet Rocketdyne for $4.7 billion.
The space and defense contractor L3Harris Technologies has announced a deal to buy Aerojet Rocketdyne for $4.7 billion.
L3Harris is buying Aerojet at $58 per share in an all-cash transaction. Aerojet shares traded at $54.89 on Dec. 16. The deal is expected to close in 2023, pending regulatory approvals.
Aerojet Rocketdyne, based in Sacramento, California, manufactures rocket engines and propulsion systems for space vehicles, ballistic missiles and military tactical weapons. The company generates approximately $2.3 billion in annual revenue. L3Harris, headquartered in Melbourne, Florida, is a global defense and aerospace firm with $17 billion in annual revenue.
This deal could in the end save Aerojet, which in recent years has had problems both making and selling its rocket engines, while facing increasing competition from many new rocket engine startups. As an old space company, its engines have tended to be too expensive, and often produced behind schedule. L3Harris now has the opportunity to clean house and streamline operations there, thus making the engines it produces more competitive in the emerging new space market.
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The space and defense contractor L3Harris Technologies has announced a deal to buy Aerojet Rocketdyne for $4.7 billion.
L3Harris is buying Aerojet at $58 per share in an all-cash transaction. Aerojet shares traded at $54.89 on Dec. 16. The deal is expected to close in 2023, pending regulatory approvals.
Aerojet Rocketdyne, based in Sacramento, California, manufactures rocket engines and propulsion systems for space vehicles, ballistic missiles and military tactical weapons. The company generates approximately $2.3 billion in annual revenue. L3Harris, headquartered in Melbourne, Florida, is a global defense and aerospace firm with $17 billion in annual revenue.
This deal could in the end save Aerojet, which in recent years has had problems both making and selling its rocket engines, while facing increasing competition from many new rocket engine startups. As an old space company, its engines have tended to be too expensive, and often produced behind schedule. L3Harris now has the opportunity to clean house and streamline operations there, thus making the engines it produces more competitive in the emerging new space market.
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
This is a good buy for them.