This marks L3Harris’ second acquisition announcement of 2022, demonstrating its continued focus on delivering critical capabilities to warfighters while strengthening the nation’s defense industrial base through increased competition.
MELBOURNE, Fla., and EL SEGUNDO, Calif. (L3 Harris PR) — L3Harris Technologies (NYSE: LHX) and Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) together announced the signing of a definitive agreement for L3Harris to acquire Aerojet Rocketdyne for $58 per share, in an all-cash transaction valued at $4.7 billion, inclusive of net debt.
The Flight Readiness Review for NASA’s Artemis I mission has concluded, and teams are proceeding toward a two-hour launch window that opens at 8:33 a.m. EDT Monday, August 29, from Kennedy Space Center’s Launch Pad 39B in Florida.
Live coverage of events will air on NASA Television, the NASA app, and the agency’s website, with prelaunch events starting Monday, Aug. 22. The launch countdown will begin Saturday, Aug. 27, at 10:23 a.m.
Jack Black, Chris Evans, Yo-Yo Ma and more to headline launch day coverage
KENNEDY SPACE CENTER, Fla. (NASA PR) — NASA will provide coverage of prelaunch, launch, and postlaunch activities for Artemis I, the first integrated test of NASA’s Orion spacecraft, Space Launch System (SLS) rocket, and the ground systems at the agency’s Kennedy Space Center in Florida. This uncrewed flight test around the Moon will pave the way for a crewed flight test and future human lunar exploration as part of Artemis.
The SLS rocket is targeted to launch during a two-hour window that opens at 8:33 a.m. EDT Monday, Aug. 29, from Launch Pad 39B at Kennedy.
WASHINGTON (Department of Justice PR) — Aerojet Rocketdyne Inc., headquartered in El Segundo, California, has agreed to pay $9 million to resolve allegations that it violated the False Claims Act by misrepresenting its compliance with cybersecurity requirements in certain federal government contracts, the Justice Department announced today. Aerojet provides propulsion and power systems for launch vehicles, missiles and satellites and other space vehicles to the Department of Defense, NASA and other federal agencies.
The settlement resolves a lawsuit filed and litigated by former Aerojet employee Brian Markus against Aerojet under the qui tam or whistleblower provisions of the False Claims Act, which permit a private party (known as a relator) to file a lawsuit on behalf of the United States and receive a portion of any recovery. Mr. Markus and Aerojet reached a settlement of the case on the second day of trial. Mr. Markus will receive $2.61 million as his share of the False Claims Act recovery.
“Whistleblowers with inside information and technical expertise can provide crucial assistance in identifying knowing cybersecurity failures and misconduct,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division.
WASHINGTON (NASA PR) — NASA and the U.S. Department of Energy (DOE) are working together to advance space nuclear technologies. The agencies have selected three design concept proposals for a fission surface power system design that could be ready to launch by the end of the decade for a demonstration on the Moon. This technology would benefit future exploration under the Artemis umbrella.
Boeing’s CST-100 Starliner uncrewed spacecraft reached orbit after launch from Florida on Thursday on its way to dock with the International Space Station (ISS) despite problems with two of its 12 thrusters, officials said. The flight test is a crucial step to certifying Starliner to carry crew to the station.
CAPE CANAVERAL SPACE FORCE STATION, Fla. (United Launch Alliance PR) — A United Launch Alliance (ULA) Atlas V rocket is in final preparations to launch Boeing’s CST-100 Starliner spacecraft on the Orbital Flight Test-2 (OFT-2) to the International Space Station (ISS) for NASA’s Commercial Crew Program. The launch is planned for Thurs. May 19 at 6:54 p.m. EDT from Space Launch Complex-41 at Cape Canaveral Space Force Station. The live launch broadcast begins no earlier than 6 p.m. EDT on May 19 at www.ulalaunch.com.
A United Launch Alliance (ULA) Atlas V rocket will launch Boeing’s Crew Space Transportation (CST)-100 Starliner spacecraft on its Orbital Flight Test-2 (OFT-2) to the International Space Station. OFT-2 is the second uncrewed flight of the Starliner that will demonstrate the spacecraft’s human transportation capabilities. This test flight is the last major step before the Atlas V and Boeing’s Starliner capsule take American astronauts to the International Space Station as part of NASA’s Commercial Crew Program.
Launch Date and Time: Thursday, May 19, 2022 at 6:54 p.m. EDT (2254 UTC) Webcast: Begins May 19 at 6 p.m. EDT (2200 UTC)
WEST PALM BEACH, Fla. (Aerojet Rocketdyne PR) – United Launch Alliance (ULA) recently awarded the largest RL10 contract ever to Aerojet Rocketdyne to deliver 116 RL10C-X engines for its Vulcan Centaur rocket. The new engines will support ULA as it works to fulfill its commitments under a contract they recently received from Amazon, as part of the largest commercial launch contract in history, to support the launch of its Kuiper satellite constellation.
HUNTSVILLE, Ala., April 06, 2022 (Aerojet Rocketdyne PR) — An advanced Aerojet Rocketdyne scramjet engine powered the successful flight test of the Hypersonic Air-breathing Weapon Concept (HAWC), in a joint effort with the Defense Advanced Research Projects Agency (DARPA), Air Force Research Laboratory (AFRL) and Lockheed Martin.
The goal of the DARPA / Lockheed Martin HAWC program is to develop and demonstrate critical technologies to enable an effective and affordable air-launched hypersonic cruise missile system.
Essential satellite for the nation’s most advanced weather observation and climate monitoring system
CAPE CANAVERAL SPACE FORCE STATION, Fla., Feb. 26, 2022 (ULA PR) – A United Launch Alliance (ULA) Atlas V rocket is in final preparations to launch the GOES-T mission for the National Oceanic and Atmospheric Administration (NOAA) and NASA. The launch, managed by NASA’s Launch Services Program (LSP) based at Kennedy Space Center, is on track for March 1 from Space Launch Complex-41 at Cape Canaveral Space Force Station. Launch is planned for 4:38 p.m. EST. The live launch broadcast begins at 4:00 p.m. EST on March 1 at www.ulalaunch.com.
Aerojet Rocketdyne Positioned to Continue Driving Growth, Profitability and Value Creation
EL SEGUNDO, Calif., Feb. 13, 2022 (Aerojet Rocketdyne PR) — Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) (the “Company”) today reaffirmed its strong foundation for substantial value creation following the termination of its merger agreement with Lockheed Martin Corporation. The Company issued the following statement:
We are poised to deliver substantial value to our shareholders driven by our continued leadership in key space exploration and defense growth markets, including by advancing hypersonics and strategic, tactical and missile defense systems. Aerojet Rocketdyne has delivered strong shareholder returns of 166% over the five years prior to the transaction announcement, significantly outperforming the Aerospace and Defense Index by 33% and the S&P 500 by 62%.
We are confident in our future performance with an impressive backlog that is more than three times the size of our annual sales and a strong macroeconomic environment underpinning our portfolio. We look forward to providing further details regarding our financial performance and strategy on our fourth quarter and full year 2021 earnings report on Feb. 17, 2022.
BETHESDA, Md., Feb. 13, 2022 (Lockheed Martin PR) — Lockheed Martin Corporation (NYSE: LMT) today announced it has terminated its agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD). The decision to terminate the agreement follows the U.S. Federal Trade Commission’s (FTC) lawsuit filed late last month seeking a preliminary injunction to block the acquisition.
“Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government,” said Lockheed Martin Chairman, President and CEO James Taiclet. “However, we determined that in light of the FTC’s actions, terminating the transaction is in the best interest of our stakeholders. We stand by our long heritage as a merchant supplier and trusted partner and will continue to support Aerojet Rocketdyne and other essential suppliers in the Defense Industrial Base still overcoming the challenges of the pandemic.
Update on Proposed Aerojet Rocketdyne Acquisition Lockheed Martin Jan. 25, 2022
Earlier this month, Lockheed Martin and Aerojet Rocketdyne agreed with the Federal Trade Commission (FTC) that the parties would not close the transaction before Jan. 27, 2022, to enable the parties to discuss the scope and nature of the merchant supply and firewall commitments previously offered by Lockheed Martin. Lockheed Martin has been advised by the FTC that its concerns regarding the transaction cannot be addressed adequately by the terms of a consent order. Lockheed Martin believes it is highly likely that the FTC will vote to sue to block the transaction and expects they will make a decision before Jan. 27, 2022.
If the FTC sues to block the transaction, Lockheed Martin could elect to defend the lawsuit or terminate the merger agreement. Additional information concerning the transaction can be found in Lockheed Martin’s 2021 Form 10-K that has been filed with the Securities and Exchange Commission.
Lockheed Martin continues to believe in the benefits of the transaction for the United States and its allies, the industry, and all of the company’s stakeholders.
Agency Seeks to Prevent World’s Largest Defense Contractor from Eliminating Last Independent U.S. Missile Propulsion Provider and Further Consolidating Markets Critical to National Security and Defense
WASHINGTON (FTC PR) — Today, the Federal Trade Commission sued to block Lockheed Martin Corporation’s $4.4 billion proposed vertical acquisition of Aerojet Rocketdyne Holdings Inc, the last independent U.S. supplier of missile propulsion systems. Aerojet supplies advanced power, propulsion, and armament systems, which are critical components for the missiles made by Lockheed and other defense prime contractors. The agency’s complaint alleges that if the deal is allowed to proceed, Lockheed will use its control of Aerojet to harm rival defense contractors and further consolidate multiple markets critical to national security and defense. This is the agency’s first litigated defense merger challenge in decades.