Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 8, 2021

Article Excerpt

LOCKHEED MARTIN CORP., $366.10, symbol LMT on New York, is the world’s largest defence contractor. The company operates 375 facilities, employs 110,000 people, and has over 16,000 active suppliers, in every U.S. state and more than 50 countries. The company is headquartered in Bethesda, Maryland. On December 20, 2020, Lockheed Martin announced it would acquire Aerojet Rocketdyne Holdings Inc. (symbol AJRD in New York) for $4.4 billion. Aerojet Rocketdyne is a leading rocket engine and missile manufacturer. The company produces solid rocket motors as well as tactical and strategic missiles for the U.S. Defense Department. It’s the maker of the rocket engines that took astronauts to the moon in 1969. Lockheed Martin was already very familiar with Aerojet Rocketdyne as it uses the company’s propulsion systems in several of its product offerings. Aerojet Rocketdyne had $2 billion in annual revenue in 2019. It was formed in 2013 with the merger of Gencorp’s Aerojet business and Pratt & Whitney’s Rocketdyne business. Lockheed Martin expects to…

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