According to the announcement, Lockheed Aerojet is paying $ 56 per share for the rocket, which is premium 33% of Friday’s closing price.
“Acquiring an aeroget rocket will protect and strengthen a key component of the homeland security industry base and reduce costs for our customers and U.S. taxpayers,” said James Dieklet, president and CEO of Lockheed Martin. Report. “This transaction supports Lockheed Martin’s important U.S. and related security operations and maintains national leadership in aerospace and hypersonic technology.”
With the transaction approval of shareholders and regulators pending, Aerojet Rocket’s shareholders will receive a special advance final dividend of $ 5 per share on common stock and convertible senior notes in March 2021, which, if not canceled, is expected to reduce the purchase price of the transaction to $ 51 per share.
The transaction is expected to close in the second half of 2021.
With nearly 5,000 employees and 15 primary operating platforms across the United States, Aerojet Rocket has generated approximately $ 2 billion in revenue in 2019. Bethesda, M.D. The company already based Aeroget Rocket’s propulsion systems for its aeronautics, missiles, fire control and space business deals.
|L.M.T.||Lockheed Martin Corporation||356.03||+3.43||+ 0.97%|
|A.J.R.T.||Of the aerojet rocket||42.04||+0.19||+ 0.45%|
Further details regarding the transaction will be discussed with investors and analysts during a live webcast on Monday at 8:30 p.m.
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