Lockheed Martin strikes $4.4B deal to buy Aerojet Rocketdyne

Lockheed Martin strikes $4.4B deal to buy Aerojet Rocketdyne
by The Associated Press
Last Updated Dec 20, 2020 at 8:42 pm EDT
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 attempt to gird for competition from recent industry entrants, Space X and Blue Origin, which are backed by two of the world’s richest men, Elon Musk and Jeff Bezos.
“Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defence industrial base and reduce costs for our customers and the American taxpayer,” Lockheed Martin CEO James Taiclet said in a statement.

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