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L3Harris to buy Aeroject Rocketdyne for $4.7B (Mark Anderson & Alex Soderstrom)

Melbourne-based L3Harris Technologies Inc. this year expects to close a $4.7 billion purchase of El Segundo, California-based missile and rocket maker Aerojet Rocketdyne Holdings Inc.

Defense contractor L3 Harris (NYSE: LHX) announced Dec. 18 it agreed to pay $58 per share in an all-cash transaction to buy Aerojet Rocketdyne Holdings Inc. (NYSE: AJRD). The acquisition of Aerojet by L3Harris is expected to close in 2023, funded with existing cash and the issuance of new debt, according to L3Harris.

“We have no intent on making any changes with their locations,” said Paul Swiergosz, a spokesman for L3Harris. “What they do is exquisite, and what they make is exquisite.”