L3Harris Technologies (LHX) and Aerojet Rocketdyne (AJRD) 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. Aerojet Rocketdyne currently generates approximately $2.3 billion in annual revenue. 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.
Published first on TheFly
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