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Posted December 28, 2020

 

Lockheed Martin announced Sunday it has purchased Aerojet Rocketdyne for $5 billion in a transaction involving two major high-tech companies with strong presence in Huntsville.

Lockheed Martin has operated in Cummings Research Park for almost 60 years after being recruited to Huntsville by Wernher von Braun while Aerojet Rocketdyne opened its defense headquarters in the park last year as well as its advanced manufacturing facility in North Huntsville Industrial Park.

The $5 billion sale will be an all-cash transaction, the announcement said.

Under the terms of the agreement, which has been unanimously approved by each company’s board of directors, Lockheed Martin will acquire Aerojet Rocketdyne for $56.00 per share in cash, representing a premium of approximately 33 percent to Aerojet Rocketdyne’s closing stock price on December 18, 2020 and a premium of approximately 42 percent to Aerojet’s volume weighted average stock price for the last 90 trading days, the announcement said.

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