L3Harris to acquire Aerojet Rocketdyne for $58/share all-cash, valued at $4.7B

L3HARRIS TECHNOLOGIES, INC. /DE/

$58.00 per share in cash, total enterprise value of ~$4.7B including net debt.
Aerojet Rocketdyne generates ~$2.3B annual revenue; deal expected to close in 2023.
Transaction funded with existing cash and new debt; not conditioned on L3Harris financing.
Termination fees: $95.6M from Aerojet if board changes recommendation; $406.3M from L3Harris if HSR clearance fails.
Aerojet Rocketdyne's CEO says joining L3Harris is 'natural next phase' for the company.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

L3HARRIS TECHNOLOGIES, INC. /DE/ entered into Agreement and Plan of Merger with Aerojet Rocketdyne Holdings, Inc. (effective 2022-12-17).

Action: entry
Agreement: merger
Counterparty: Aerojet Rocketdyne Holdings, Inc.
Effective: 2022-12-17

Exact text from the filing

On December 17, 2022, L3Harris Technologies, Inc., a Delaware corporation (“L3Harris”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), with Aerojet Rocketdyne Holdings, Inc., a Delaware corporation (“Aerojet Rocketdyne”), and Aquila Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of L3Harris (“Merger Sub”).

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155 material agreements filed in the last 30 days. Browse all material agreements →

L3HARRIS TECHNOLOGIES, INC. /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-22-128031

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