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L3Harris to acquire Aerojet Rocketdyne

March 17, 2023

Aerojet Rocketdyne’s shareholders have approved the move by L3Harris Technologies to buy Aerojet. L3Harris has tabled $4.7 billion (€4.3bn) for the purchase. 99.7 per cent of Aerojet shareholders approved the move.

Aerojet Rocketdyne delivers a broad range of capabilities to support hypersonic aircraft, including solid rocket motor boosters, scramjets, warheads and missile defence technologies.

“We are pleased with the strong support of our stockholders for this transaction with L3Harris,” said Eileen P. Drake, CEO/president of Aerojet Rocketdyne. “[The] stockholder approval is another milestone in the process of bringing together our two world-class organisations to accelerate innovation and strengthen competition for national security and space exploration propulsion solutions. We remain focused on completing this transaction and delivering the significant expected benefits for our employees, customers, partners and the communities in which we operate.”

L3Harris is a major US technology company with a significant portfolio of defence-related products. The company was formed back in 2019 with the merger of L3 Technologies and Harris Corp.

The two companies continue to expect to close the transaction this year subject to the normal regulatory approvals, clearances and other customary closing conditions.

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