Lockheed Martin inks $4.4B deal for Aerojet Rocketdyne
December 21, 2020
Aerospace and defense group Lockheed Martin has agreed to buy rocket and missile propulsion maker Aerojet Rocketdyne for $4.4 billion. Lockheed will pay $56 per share which is expected to be reduced following the payment of a special cash dividend of $5 per share to Aerojet Rocketdyne's shareholders. The US company has 5,000 employees and generated revenue of around $2 billion in 2019. The sale is expected to close in the second half of 2021.