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L3Harris Diversifying Weapons, Space Work With $4.7 Billion Deal For Aerojet Rocketdyne

Cal Biesecker By
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L3Harris Diversifying Weapons, Space Work With $4.7 Billion Deal For Aerojet Rocketdyne
Standard Missile-2 rocketing skyward. Aerojet Rocketyne supplies the Mk 72 and Mk 104 rocket motors for the various SM programs. Photo: Aerojet Rocketdyne

Nearly a year after the collapse of a proposed deal by Lockheed Martin [LMT] to buy engine and rocket maker Aerojet Rocketdyne [AJRD], the only independent supplier of tactical rocket motors and engines for space launch vehicles last Saturday found a new suitor, L3Harris Technologies [LHX], which agreed to buy the company for $4.7 billion. L3Harris will pay $58 per share in cash for the California-based Aerojet Rocketdyne, and the total deal value includes debt. The companies made the announcement…

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