![\"L3Harris](\"https:\/\/cdn.satnow.com\/news\/HYPERSONIC_638072011170390560.jpg\")
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L3Harris Technologies<\/strong> and Aerojet Rocketdyne<\/strong> together 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.<\/p>\n This marks L3Harris\u2019 second acquisition<\/strong> announcement of 2022, demonstrating its continued focus on delivering critical capabilities to warfighters while strengthening the nation\u2019s defense industrial base through increased competition.<\/p>\n \u201cWe\u2019ve heard the DoD leadership loud and clear: they want high-quality, innovative, and cost-effective solutions to meet both current and emerging threats, and they\u2019re relying upon a strong, competitive industrial base to deliver those solutions,\u201d said Christopher E. Kubasik<\/strong>, L3Harris CEO and Chair. \u201cWith this acquisition, we will use the combined talents of more than 50,000 employees to drive continuous process improvement, enhance business operations and elevate the performance of this crucial national asset.\u201d<\/p>\n A proven provider of world-class propulsion systems and energetics to the DoD, NASA, and other partners and allies worldwide, Aerojet Rocketdyne has a 100-year heritage of excellence delivering some of the most significant moments in space exploration and discovery, while leading the industry with investments in rocket propulsion that support America\u2019s warfighters and enhance integrated deterrence.<\/p>\n The acquisition will ensure the defense industrial base and our customers will have a strengthened merchant supplier to effectively address both current and emerging threats \u2013 and promote scientific discovery and innovation \u2013 through targeted investment in advanced missile technologies, hypersonics, and more. <\/p>\n \u201cThis agreement will accelerate innovation for national security propulsion solutions while providing a premium cash value for our shareholders and tremendous benefits for our employees, customers, partners, and the communities in which we operate,\u201d said Eileen P. Drake<\/strong>, CEO and President of Aerojet Rocketdyne. \u201cJoining L3Harris is a testament to the world-class organization and team we\u2019ve built and represents a natural next phase of our evolution. As part of L3Harris, we will bring our advanced technologies together with their substantial expertise and resources to accelerate our shared purpose: enabling the defense of our nation and space exploration. This is an exciting new chapter for Aerojet Rocketdyne and our over 5,200 dedicated team members, providing them with additional opportunities, and we look forward to working closely with L3Harris to complete this transaction.\u201d<\/p>\n Aerojet Rocketdyne currently generates approximately $2.3 billion in annual revenue. The company\u2019s employees operate primarily out of advanced manufacturing facilities in Canoga Park, California; Camden, Arkansas; West Palm Beach and Orlando, Florida; Huntsville, Alabama; Orange, Virginia; Redmond, Washington; Stennis Space Center, Mississippi; Jonesborough, Tennessee; and Carlstadt, New Jersey.<\/p>\n The cash acquisition will be funded with existing cash and the issuance of new debt. The deal is expected to close in 2023, subject to required regulatory approvals and clearances, and other customary closing conditions.<\/p>\n","protected":false},"excerpt":{"rendered":" L3Harris Technologies and Aerojet Rocketdyne together 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. This marks L3Harris\u2019 second acquisition announcement of 2022, demonstrating its continued focus on delivering critical capabilities to warfighters while strengthening […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[72],"class_list":["post-8974","post","type-post","status-publish","format-standard","hentry","category-news","tag-global"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/8974"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=8974"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/8974\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=8974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=8974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=8974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}