L3Harris Technologies, a United States technology company, defense contractor, and information technology services provider, confirmed in a statement that it will be acquiring Aerojet Rocketdyne Holdings Inc, a US aerospace and defense company, in a deal worth approximately $4.7 billion or $58 per share.
The purchase will be done in all-cash "inclusive of net debt," L3Harris noted. The company stressed that "the acquisition will ensure the defense industrial base and our customers will have a strengthened merchant supplier to effectively address both current and emerging threats – and promote scientific discovery and innovation – through targeted investment in advanced missile technologies, hypersonics and more."
The agreement is expected to close in 2023, as regulatory approvals and clearances are pending.