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  • Friday, November 22, 2024

Aerojet Rocketdyne’s Shareholders OK $4.4B Deal With Lockheed

Shareholders at Aerojet Rocketdyne Holdings (NYSE: AJRD) voted Tuesday to approve the company’s $4.4 billion sale to Lockheed Martin (NYSE: LMT) and both parties still expect to close the transaction in the second half of this year.

Aerojet Rocketdyne said Tuesday holders of approximately 99.76 percent of its stock were in favor of the merger agreement, representing 78.78 percent of the total shares issued and outstanding as of Feb. 4.

Lockheed first announced the deal in December as the Bethesda, Maryland-based company aims to expand its portfolio of air and missile defense, hypersonic and space technologies.

The Federal Trade Commission is reviewing the proposed combination as part of a regulatory process under the Hart-Scott-Rodino Act.

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