L3HARRIS TECHNOLOGIES, INC. /DE/ (LHX): M&A transaction — L3Harris closes Aerojet Rocketdyne acquisition for $58/share; forms fourth segment

L3HARRIS TECHNOLOGIES, INC. /DE/

Acquisition completed July 28, 2023; Aerojet Rocketdyne shareholders received $58.00 per share in cash.
Aerojet Rocketdyne becomes L3Harris's fourth business segment, adding over 5,000 employees.
Ross Niebergall appointed President of the new Aerojet Rocketdyne segment.
Deal aims to strengthen defense industrial base and expand into hypersonics, missile defense, and rocket engines.
Acquisition adds considerable long-cycle backlog and broad propulsion expertise.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

L3HARRIS TECHNOLOGIES, INC. /DE/ completed an acquisition involving Aerojet Rocketdyne Holdings, Inc. for $58.00 in cash (closed 2023-07-28).

Action: acquisition
Counterparty: Aerojet Rocketdyne Holdings, Inc.
Consideration: $58.00 in cash
Closing: 2023-07-28

Exact text from the filing

wholly owned subsidiaries and (ii) with respect to which appraisal rights have been properly exercised and perfected) was canceled and converted into the right to receive $58.00 in cash, without interest (the “Merger Consideration”). At the Effective Time, each outstanding Aerojet Rocketdyne stock appreciation right automatically vested and was cancelled

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L3HARRIS TECHNOLOGIES, INC. /DE/ filing history →

Source: SEC EDGAR

accession 0001104659-23-085075

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