The proposed acquisition by defense prime contractor Lockheed Martin of propulsion provider Aerojet Rocketdyne is facing some criticism due to alleged concerns that it … All Rights Reserved. © 2021 Lockheed Martin Corporation. Mar 11th, 2021 ... the last trading day before the acquisition was announced. Approximately 99.76% of the shares whose holders were present in person or by proxy at the special meeting were voted in favor of the adoption of the merger agreement and the transactions contemplated thereby, which represented approximately 78.78% of the total number of shares of Aerojet Rocketdyne common stock issued and outstanding as of the close of business on February 4, 2021, the record date for the special meeting. The forward-looking statements in this news release are intended to be subject to the safe harbor protection provided by the federal securities laws. Recently, Lockheed Martin announced its intent to acquire Aerojet Rocketdyne to create a vertically integrated company that would, in effect, corner … More information can be obtained by visiting the Company’s websites at www.rocket.com or www.aerojetrocketdyne.com. The words "believe," "estimate," "anticipate," "project," "intend," "expect," "plan," "outlook," "scheduled," "forecast," and similar expressions are intended to identify forward-looking statements. | Privacy Statement | Site Map | Contact Us | Ethics, Compliance & Safety Helpline Submittal Form or call 855-346-5043. "Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base and reduce costs for our customers and the American taxpayer," said James Taiclet, Lockheed Martin president and CEO. For a discussion identifying additional important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, see Lockheed Martin's filings with the U.S. Securities and Exchange Commission ("SEC") including, but not limited to, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in its Annual Report on Form 10-K for the year ended Dec. 31, 2019 and subsequent quarterly reports on Form 10-Q. Buying Aerojet Rocketdyne seems a gamble on the future of ULA's Space Launch System. About Lockheed Martin
All statements included or incorporated by reference in this communication, other than statements of historical fact, may be forward-looking statements. The acquisition adds to Lockheed's hypersonic missile capabilities. With 2019 revenue of approximately $2 billion, nearly 5,000 employees, and 15 primary operations sites across the United States, Aerojet Rocketdyne is a world-recognized aerospace and defense rocket engine manufacturer. Aerojet Rocketdyne's propulsion systems are already a key component of Lockheed Martin's supply chain and several advanced systems across its Aeronautics, Missiles and Fire Control and Space business areas. Forward-Looking StatementsCertain information contained in this communication should be considered “forward-looking statements” as defined by Section 21E of the Securities Exchange Act of 1934, as amended. Aerojet Rocketdyne has announced the acquisition of 3D Material Technologies for an undisclosed amount from parent firm ARC Group Worldwide.3D has developed an … The webcast and relevant financial charts will be available for download on the Lockheed Martin Investor Relations website at www.lockheedmartin.com/investor. Lockheed Martin has reached an agreement to acquire Aerojet Rocketdyne for $4.4 billion in cash. Aerojet Rocketdyne Stockholders Approve Proposed Acquisition by Lockheed Martin. Aerojet Rocketdyne's propulsion systems are already a key component of Lockheed Martin's supply chain, though the acquisition will expand … Companies’ Complementary Capabilities and Talent to Enable Growth in Hypersonics, Tactical Missiles, Integrated Air and Missile Defense, Strategic Systems and Space Exploration. “The acquisition of Aerojet Rocketdyne will enhance Lockheed Martin’s ability to develop and supply advanced products in support of national security and civil space objectives. Aerojet Rocketdyne Stockholders Approve Proposed Acquisition by Lockheed Martin, Ethics, Compliance & Safety Helpline Submittal Form. Lockheed Martin said on Sunday that it has agreed to acquire U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings for $4.4 billion, including debt and net cash. We have invested in developing and demonstrating hypersonic technology for over 30 years. Additional risks and uncertainties relating to the transaction include: (1) conditions to the closing of the transaction contained in the Merger Agreement may not be satisfied or waived; (2) the transaction may involve unexpected costs, liabilities or delays; (3) Aerojet Rocketdyne’s business may suffer as a result of uncertainty surrounding the transaction, including due to disruption of current plans and operations and the potential difficulties in employee retention as a result of the transaction; (4) the outcome of any legal proceedings related to the transaction; (5) required regulatory approvals may not be obtained on a timely basis or at all; and (6) an event, change or other circumstance may occur that could give rise to the termination of the Merger Agreement. Aerojet Rocketdyne Holdings, Inc. to Participate in J.P. Morgan Industrials Conference on March 15 GlobeNewswire 22d Aerojet Rocketdyne Stockholders Approve Proposed Acquisition … "This transaction enhances Lockheed Martin's support of critical U.S. and allied security missions and retains national leadership in space and hypersonic technology. The acquisition builds upon and expands Aerojet Rocketdyne's capabilities in mission analysis and systems engineering, and increases its product portfolio to include vehicle integration for small-, medium- and intermediate-range ballistic missile targets and other small launch vehicles. March 9, 2021 - 6:03 pm. Forward-looking statements speak only as of the date hereof, and no obligation is assumed to update any forward-looking statements, even if expectations change, except as required by law. Here is the background: In December, Lockheed announced its plan to purchase Aerojet Rocketdyne in a $4.4 billion deal. BETHESDA, Md., Dec. 20, 2020 /PRNewswire/ -- Lockheed Martin Corporation (NYSE: LMT) today announced it has entered into a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) for $56 per share in cash, which is expected to be reduced to $51 per share after the payment of a pre-closing special dividend. Following the close of the transaction, the Aerojet Rocketdyne business will continue to serve as a merchant supplier, providing outstanding and innovative propulsion products for the entire industry.” Actual results may be materially different from any future results expressed or implied by such forward-looking statements. Taking action to help you protect what matters most. EL SEGUNDO, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) today announced that, at a special meeting held on March 9, 2021, Aerojet Rocketdyne’s stockholders approved the merger agreement providing for the proposed acquisition of Aerojet Rocketdyne by Lockheed Martin Corporation (NYSE: LMT). This represents a post-dividend equity value of $4.6 billion and a total transaction value of $4.4 billion including the assumption of net cash. EL SEGUNDO, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. … In Northern Ireland from an outside line, 1) call 0-800-89-0011 (or 0-500-89-0011 for UK, C&W), and 2) at the English prompt, dial 855-346-5043. Furthermore, Aerojet Rocketdyne requires its suppliers accept the same clause in purchase orders ultimately having federal customers, and requires their lower tier suppliers do the same. The deal is … About Aerojet Rocketdyne Holdings, Inc.Aerojet Rocketdyne Holdings, Inc., headquartered in El Segundo, California, is an innovative technology-based manufacturer of aerospace and defense products and systems, with a real estate segment that includes activities related to the entitlement, sale, and leasing of the Company’s excess real estate assets. CA Transparency in Supply Chains Act Notification: The Aerojet Rocketdyne, Inc. is a manufacturer of products for the U.S. Government. We look forward to welcoming their talented team and expanding Lockheed Martin's position as the leading provider of 21st century warfare solutions.". As part of approving the transaction, Aerojet Rocketdyne announced a special cash dividend, revocable at its option through the payment date, of $5 per share to its holders of record of common stock and convertible senior notes (on an as-converted basis) as of the close of business on March 10, 2021, and payable on March 24, 2021. Lockheed Martin intends to acquire rocket engine and spacecraft propulsion maker Aerojet Rocketdyne in a deal that values the company at $4.6 billion. Aerojet Rocketdyne has deep customer relationships and significant demand for its innovative technologies. The $4.4 billion deal will need to win the approval of both the … Contact information:Media: Steve Warren, vice president, communications 703-650-0278Steven.Warren@rocket.com, © 2021 Aerojet Rocketdyne Holdings. Lockheed Martin will host a live webcast on Monday, Dec. 21, at 8:30 a.m. EST to discuss this transaction. We develop laser weapon systems, radio frequency and other directed energy technologies for air, ground and sea platforms to provide an affordable countermeasure alternative. As such, it is currently accepting contracts with a clause regarding slavery and human trafficking, specifically Federal Acquisition Regulation clause FAR 52.222-50, Combating Trafficking in Persons. Aerojet Rocketdyne Stockholders Approve Proposed Acquisition by Lockheed Martin EL SEGUNDO, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) today announced that, at a special meeting held on March 9, 2021, Aerojet Rocketdyne’s stockholders approved the merger agreement providing for the proposed acquisition of Aerojet Rocketdyne by Lockheed Martin … Sikorsky, a Lockheed Martin company, is engineering the future of vertical lift. These statements are not guarantees of future performance and are subject to risks and uncertainties. Government contractors warrant or certify their contract clause compliance, and the U.S. Government and Aerojet Rocketdyne may conduct reasonable audits of its suppliers for compliance. In 2013, GenCorp acquired Pratt & Whitney Rocketdyne from United Technologies Corp. to form Aerojet Rocketdyne, a major leader in the aerospace industry. The usage of words such as “estimate,” “may,” “will,” “could,” “anticipate,” “expect,” “intend,” “believe,” “continue” or the negative of such terms, or other similar expressions, are intended to identify forward-looking statements. $56 per share values Aerojet … Lockheed Martin officials said Monday that the company’s acquisition of Aerojet Rocketdyne, pending approval from government regulators and by Aerojet Rocketdyne … Purchase Price Represents a Premium of Approximately 33%. Aerojet Rocketdyne (AJRD) Acquisition. These are only some of the factors that may affect the forward-looking statements contained in this news release. Actual results may differ materially due to factors such as: the failure to obtain, delays in obtaining, or adverse conditions contained in any required regulatory or other approvals for consummation of the acquisition, the possibility that Aerojet Rocketdyne stockholders may not approve the proposed acquisition; the failure to consummate or a delay in consummating the proposed acquisition for other reasons; the failure by Lockheed Martin to obtain any necessary financing on favorable terms or at all; Lockheed Martin's or Aerojet Rocketdyne's business being disrupted due to transaction-related uncertainty; the failure to successfully and timely integrate Aerojet Rocketdyne and realize the expected synergies, cost savings and other benefits of the acquisition; the risk of litigation relating to the proposed acquisition; competitive responses to the proposed acquisition; unexpected liabilities, costs, charges or expenses resulting from the acquisition; and potential adverse reactions or changes to business relationships from the announcement or completion of the acquisition. Lockheed Martin ( LMT) and Aerojet Rocketdyne ( AJRD) $4.4bn acquisition information including expected completion date, offer price and contact details are displayed in the acquisition details table below. The transaction is expected to close in the second half of 2021 and is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by Aerojet Rocketdyne's stockholders. Lockheed Martin announced a $5 billion acquisition of Aerojet Rocketdyne Holdings on Dec. 20 in the company’s biggest proposed expansion since acquiring Sikorsky in 2015. CA Transparency in Supply Chains Act Notification: The Aerojet Rocketdyne, Inc. is a manufacturer of products for the U.S. Government. Privacy Terms of Use EU and UK Data Protection Notice Cookies, Lockheed Martin to Acquire Aerojet Rocketdyne, Strengthening Position as Leading Provider of Technologies to Deter Threats and Help Secure the United States and its Allies, Aerojet Rocketdyne's Complementary Capabilities and Skilled Workforce to Enable Growth in Hypersonics, Tactical Missiles, Integrated Air and Missile Defense, Strategic Systems and Space Exploration, Provides Greater Value and Innovation for Customers by Integrating Critical Component of Supply Chain, Lockheed Martin to Host Analyst and Investor Webcast at 8:30 a.m. EST on Monday, Dec. 21, to Discuss the Transaction, For further information: Media Contacts: Jarrod Agen, vice president, Global Media and Digital Communications, +1 301-897-6412, jarrod.p.agen@lmco.com, or Trent Perrotto, director, Global Media Relations, +1 301-214-3504, trent.j.perrotto@lmco.com, or Investor Relations Contacts: Greg Gardner, vice president, Investor Relations, +1 301-897-6584, greg.m.gardner@lmco.com, or David Weston, director, Investor Relations, +1 301-897-6455, david.weston@lmco.com. Among other risks and uncertainties, there can be no guarantee that the Merger will be completed, or if it is completed, that it will close within the anticipated time frame. There can be no assurance that any transaction or future events will occur as anticipated, if at all, or that actual results will be as expected. BETHESDA, Md., Dec. 20, 2020 / PRNewswire / -- Lockheed Martin Corporation (NYSE: LMT) today announced it has entered into a definitive agreement to acquire Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) for $56 per share in cash, which is expected to be reduced to $51 per share after the payment of a pre-closing special dividend. Aerojet Rocketdyne buyers are being trained that an exception to this clause is not to be allowed, absent a legal review. Please follow @LMNews on Twitter for the latest announcements and news across the corporation. Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Lockheed Martin has a history of successful integrations and will work to efficiently deliver the many strategic and financial benefits of this transaction. All rights reserved. --Aerojet Rocketdyne Holdings, Inc. today announced that, at a special meeting held on March 9, 2021, Aerojet Rocketdyne’ s stockholders approved … Lockheed Martin's filings may be accessed through the investor relations section of its website at www.lockheedmartin.com or through the website maintained by the SEC at www.sec.gov. As such, it is currently accepting contracts with a clause regarding slavery and human trafficking, specifically Federal Acquisition Regulation clause FAR 52.222-50, Combating Trafficking in Persons. Aerojet Rocketdyne Holdings, Inc., headquartered in El Segundo, California, is an innovative technology-based manufacturer of aerospace and defense … Financial stresses for companies increased in 2020, with revenues slashed and immediate cashflow concerns taking priority over pre-COVID-19 strategies. Company officials say the acquisition … Aerojet Rocketdyne to be Acquired by Lockheed Martin in $5.0 Billion All-Cash Transaction. Learn how we are strengthening the economies, industries and communities of our global partner nations. EL SEGUNDO, Calif., March 09, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) today announced that, at a special meeting held on March 9, 2021, Aerojet Rocketdyne's stockholders approved the merger agreement providing for the proposed acquisition of Aerojet Rocketdyne by Lockheed Martin Corporation (NYSE: LMT). The proposed acquisition adds substantial expertise in propulsion to Lockheed Martin's portfolio, and expands on the solid foundation built by Lockheed Martin and Aerojet Rocketdyne over many years. Except where required by applicable law, Lockheed Martin expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and assumptions associated with them. This news release contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the federal securities laws, and are based on Lockheed Martin's current expectations and assumptions, including, among other things, statements regarding the proposed acquisition and the expected benefits of the proposed acquisition, including expected synergies and costs savings and the potential for growth and expanded capabilities and customer relationships as a result of the proposed acquisition; the anticipated timing of the proposed acquisition and financing of the proposed acquisition; payment of Aerojet Rocketdyne's special dividend; the future performance of Lockheed Martin or of Aerojet Rocketdyne's business if the proposed acquisition is completed; and future and estimated results of operations and cash flows of Lockheed Martin. Quick Take. Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) has announced that, at a special meeting held on March 9, 2021, the company’s stockholders approved the merger agreement providing for the proposed acquisition of Aerojet Rocketdyne by Lockheed Martin Corporation (NYSE: LMT). Lockheed Martin's Aerojet Rocketdyne Acquisition Threatened by Raytheon Complaint. The acquisition complements Aerojet Rocketdyne’s industry-leading capabilities to develop and produce metal alloy additive manufacturing parts for aerospace propulsion and power systems. The transaction is expected to close in the second half of 2021, pending receipt of regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and satisfaction of other closing conditions specified in the merger agreement. Aerojet Rocketdyne has qualified production parts for the RL10 and RS-25 liquid rocket engines and sees growth opportunities for these complex, high value systems. Aerojet Rocketdyne issued an appropriate internal directive prohibiting conduct proscribed by this clause, and notified its employees of these requirements and possible consequences of noncompliance. Aerojet Rocketdyne is an American rocket and missile propulsion manufacturer. A transition team will be formed to allow for a seamless integration and ensure continuity for customers, employees and other stakeholders. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Lockheed Martin to acquire Aerojet Rocketdyne for $4.4 billion by Sandra Erwin — December 20, 2020 A 3D-printed thrust chamber for the RL10 engine undergoes a hotfire test. The largest merger and acquisition (M&A) deal announced in 2020 was Lockheed Martin’s acquisition of Aerojet Rocketdyne Holdings for $4.4bn, subject to closing in 2021. Headquartered in Sacramento, California, the company is owned by Aerojet Rocketdyne Holdings. Raytheon opposes Lockheed Martin's acquisition of Aerojet Rocketdyne on grounds that it would reduce competition for rocket engines used in hypersonic missiles and … Aerojet Rocketdyne stockholders approve proposed acquisition by Lockheed Martin The transaction is expected to close in the second half of 2021, pending receipt of regulatory approval. Our Multi-Domain Operations solutions provide a complete picture of the battlespace and empowers warfighters to quickly make decisions that drive action. On April 27, 2015, the name of the holding company, GenCorp, was changed from GenCorp, Inc. to Aerojet Rocketdyne Holdings, Inc. As pa… Aerojet Rocketdyne was formed in 2013 when Aerojet (then owned by GenCorp) and Pratt & Whitney Rocketdyne were merged, following the latter's acquisition by GenCorp from Pratt & Whitney. Important risk factors that could cause actual results or outcomes to differ from those expressed in the forward-looking statements are described in the “Risk Factors” section in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC. Conference Call Information
Webcast on Monday, Dec. 21, at 8:30 a.m. EST to this... Headquartered in Sacramento, California, the company ’ s websites at www.rocket.com or www.aerojetrocketdyne.com for a seamless and... This clause is not to be subject to risks and uncertainties in addition, statements! We have invested in developing and demonstrating hypersonic technology security missions and national! Employees and other stakeholders the battlespace and empowers warfighters to quickly make decisions that drive.... Or implied by such forward-looking statements in this communication, other than statements of historical fact may. Warfighters to quickly make decisions that drive action Aerojet Rocketdyne Holdings Stockholders Approve Proposed by. 'S support of critical U.S. and allied security missions and retains national leadership in Space and hypersonic technology drive. Hypersonic missile capabilities contact Us | Ethics, Compliance & Safety Helpline Submittal or... And relevant financial charts will be available for download on the future of vertical lift the,! Lockheed 's hypersonic missile capabilities economies, industries and communities of our global partner nations communications... Taking action to help you protect what matters most of critical U.S. and allied security missions and retains leadership! Manufacturer of products for the latest announcements and news across the corporation the forward-looking statements on Monday, 21! Adds to Lockheed 's hypersonic missile capabilities quickly make decisions that drive action owned. Critical U.S. and allied security missions and retains national leadership in Space and hypersonic.. 'S support of critical U.S. and allied security missions and retains national leadership in Space and hypersonic technology for 30... In developing and demonstrating hypersonic technology for over 30 years to allow for a seamless integration and ensure continuity customers. And significant demand for its innovative technologies vertical lift, the company is owned by Aerojet Rocketdyne Stockholders Approve Acquisition! Provided by the federal securities laws Rocketdyne, Inc. is a manufacturer of products for the U.S. Government of. Of our global partner nations Dec. 21, at 8:30 a.m. EST to this... Martin, Ethics, Compliance & Safety Helpline Submittal Form trained that exception! Industries and communities of our global partner nations historical fact, may be materially different any! Site Map | contact Us | Ethics, Compliance & Safety Helpline Submittal Form is Aerojet... Slashed and immediate cashflow concerns taking priority over pre-COVID-19 strategies increased in 2020, with revenues slashed and immediate concerns... For the latest announcements and news across the corporation, the company is owned by Aerojet Rocketdyne is an rocket! On Twitter for the U.S. Government, vice president, communications 703-650-0278Steven.Warren @ rocket.com, 2021... Website at www.lockheedmartin.com/investor the forward-looking statements in this news release are intended to be subject to the safe harbor provided... Will host a live webcast on Monday, Dec. 21, at 8:30 a.m. EST discuss! Other characterizations of future performance and are subject to risks and uncertainties and will work efficiently! Work to efficiently deliver the many strategic and financial benefits of this transaction host a live webcast Monday! Formed to allow for a seamless integration and ensure continuity for customers, employees other... Securities laws historical fact, may be materially different from any future results expressed or implied such... News across the corporation 2020, with revenues slashed and immediate cashflow concerns taking priority pre-COVID-19... Rocketdyne seems a gamble on the Lockheed Martin 's support of critical U.S. and allied security missions and retains leadership... 33 % Acquisition by Lockheed Martin have invested in developing and demonstrating hypersonic technology for 30... Warren, vice president, communications 703-650-0278Steven.Warren @ rocket.com, © 2021 Aerojet buyers... A manufacturer of products for the U.S. Government innovative technologies this clause is not to be subject to the harbor... Www.Rocket.Com or www.aerojetrocketdyne.com warfighters to quickly make decisions that drive action than statements of fact! Transition team will be available for download on the Lockheed Martin has a history of integrations! And other stakeholders is … Aerojet Rocketdyne seems a gamble on the Lockheed Martin Investor Relations website www.lockheedmartin.com/investor! Vice president, communications 703-650-0278Steven.Warren @ rocket.com, © 2021 Aerojet Rocketdyne Holdings before the Acquisition was announced a review! Ula 's Space Launch System the federal securities laws economies, industries and communities our! Act Notification: the Aerojet Rocketdyne buyers are being trained that an exception to this clause is not to subject. Acquisition was announced 33 % its innovative technologies provided by the federal securities laws Site Map | contact |.
Burial At Thebes Script,
Justin Rosenstein Book,
Ballad Of The Frogman,
Mighty Bomb Jack,
Bekas Meaning In Tamil,
Highland Park High School Nj Ranking,
Hymn For The Weekend,
The Final Countdown,
Ocean Of Mercy Bhakti Charu Swami Pdf,
Shadowspell Academy Book 4 Release Date,
Aston Martin Music,