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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lockheed Martin Corp | NYSE:LMT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -3.49 | -0.75% | 461.29 | 466.00 | 459.17 | 463.90 | 857,966 | 00:49:56 |
From Apr 2019 to Apr 2024
By Michael Dabaie
Aerojet Rocketdyne Holdings Inc. shares were up about 25%, to $52.32, in Monday afternoon trading.
Lockheed Martin Corp. said Sunday it would acquire Aerojet Rocketdyne 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.
Lockheed said 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.
Aerojet Rocketdyne declared a $5-a-share pre-closing special dividend to holders of its common shares and convertible senior notes.
Aerospace and defense rocket engine manufacturer Aerojet Rocketdyne had 2019 revenue of about $2 billion and has nearly 5,000 employees and 15 primary operations sites across the U.S.,
Lockheed's plan to acquire Aerojet Rocketdyne solidifies its focus on hypersonics, J.P. Morgan said in a note on Lockheed.
Lockheed Martin shares were down 1%, to $351.91.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
December 21, 2020 14:26 ET (19:26 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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