Aerojet Rocketdyne powers the Terminal High Altitude Area Defense missile with the solid rocket boost motor and a highly-responsive thruster system providing a critical missile defense capability for the nation. The L3Harris acquisition of Aerojet Rocketdyne will provide enhanced business operations, continued innovation and ensure continued delivery of these essential capabilities for the Department of Defense.
Aerojet Rocketdyne delivers a broad range of capabilities to support hypersonics, including solid rocket motor boosters, scramjets, warheads and missile defense technologies. The L3Harris acquisition of Aerojet Rocketdyne will provide enhanced business operations, continued innovation and ensure continued delivery of these essential capabilities for the Department of Defense.
- Source:L3Harris
- Top Photo Source: Aerojet Rocketdyne Artist Concept
- Bottom Photo: Missile Defense Agency
L3Harris to Acquire Aerojet Rocketdyne
L3Harris Technologies and Aerojet Rocketdyne Holdings, Inc. 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' second acquisition announcement of 2022, demonstrating its continued focus on delivering critical capabilities to warfighters while strengthening the nation's defense industrial base through increased competition.
“We've 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're relying upon a strong, competitive industrial base to deliver those solutions,” said Christopher E. Kubasik, L3Harris CEO and Chair. “With 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.”
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's warfighters and enhance integrated deterrence.
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 – and promote scientific discovery and innovation – through targeted investment in advanced missile technologies, hypersonics and more.
“This 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,” said Eileen P. Drake, CEO and President of Aerojet Rocketdyne. “Joining L3Harris is a testament to the world-class organization and team we've 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.
