L3Harris confirms $4.7 billion acquisition of Aerojet Rocketdyne

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L3Harris Technologies, a leading global technology company, announced that it has reached an agreement to acquire Aerojet Rocketdyne Holdings Inc. for $58 per share, totaling $4.7 billion including net debt. The transaction, which will be funded with a combination of existing cash and new debt, is expected to close in 2023.

Aerojet Rocketdyne, a leading provider of aerospace and defense products and services, generates approximately $2.3 billion in annual revenue. Aerojet Rocketdyne has played a crucial role in many of the most significant moments in space exploration and has made significant investments in rocket propulsion technology to support the needs of the U.S. military and enhance global deterrence.

The acquisition of Aerojet Rocketdyne will allow L3Harris to expand its capabilities in the aerospace and defense sectors, and further solidify its position as a leader in these industries.