BETHESDA, Md. — Lockheed Martin is buying rocket engine manufacturer Aerojet Rocketdyne Holdings for $4.4 billion in a deal that brings together companies that already had been working together in the aeronautics industry.
The acquisition announced late Sunday is part of Lockheed Martin’s LMT,
“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer,” Lockheed Martin CEO James Taiclet said in a statement.
Bethesda, Maryland-based Lockheed is paying $56 per share, 33% above the Friday closing price of Aerojet Rocketdyne’s AJRD,