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.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
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.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
This is a good buy for them.