Shares of Aerojet Rocketdyne Holdings gained as much as 26% on Monday after defense giant Lockheed Martin announced it’s acquiring the company in a $4. …
Shares of Aerojet Rocketdyne Holdings gained as much as 26% on Monday after defense giant Lockheed Martin announced it’s acquiring the company in a $4.4 billion deal. Lockheed will purchase Aerojet for $56 per share in cash, which is expected to be reduced to $51 per share after the payment of a pre-closing special dividend, according to a company statement. Aerojet is an aerospace and defense rocket engine manufacturer. The acquisition will give Lockheed a larger stake in space and hypersonic technology as it competes alongside newer entrants like SpaceX for space contracts with the US government.
