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Lockheed Martin acquires Aerojet Rocketdyne for $4.4 billion

Aerospace Rocketdyne, California. Photo: Company.

Paris, 21 December 2020. – “(E)xpanding its position as the leading provider of 21st century warfare solutions”: Lockheed Martin wants to buy Aerojet Rocketdyne, an aerospace and defense rocket engine manufacturer, for $4.4 billion.

Lockheed Martin announced tonight that it has entered into a definitive agreement to acquire Aerojet Rocketdyne for a post-dividend equity value of $4.6 billion and a total transaction value of $4.4 billion, including the assumption of net cash, the company said.

The acquisition will enable Lockheed Martin to further grow in Hypersonics, Tactical Missiles, Integrated Air and Missile Defense, Strategic Systems and Space Exploration, it said.

With 2019 revenue of approximately $2 billion, nearly 5,000 employees, and 15 primary operations sites across the U.S., Aerojet Rocketdyne is a world-recognized aerospace and defense rocket engine manufacturer, Lockheed Martin said.

“The proposed acquisition adds substantial expertise in propulsion to Lockheed Martin’s portfolio, and expands on the solid foundation built by Lockheed Martin and Aerojet Rocketdyne over many years,” the company said. “Aerojet Rocketdyne’s propulsion systems are already a key component of Lockheed Martin’s supply chain and several advanced systems across its Aeronautics, Missiles and Fire Control and Space business areas.”

The transaction is expected to close in the second half of 2021, subject several usual approvals. Lockheed Martin will host a conference call on Monday to give further details of the acquisition.

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