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Top related persons:
Elizabeth Warren - 1 Warren - 1 Lockheed Martin - 1 Lloyd Austin - 1 William LaPlante - 1 Chris Deluzio - 1 John Garamendi - 1 Mark Pocan - 1
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Ukraine United States
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Defense Department - 1 L3Harris Technologies - 1 Aerojet Rocketdyne Holdings - 1 The Defense Department - 1 Raytheon - 1 Boeing - 1 Defense - 1 L3 Technologies - 1

Search resuls for: "L3 Technologies"


4 mentions found


☆ US Senator Warren, others warn against L3Harris plan to buy Aerojet
  + stars: | 2023-07-11 | by ( ) www.reuters.com   time to read: +2 min
Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers on Tuesday to urge the Defense Department to thoroughly review defense contractor L3Harris Technologies' (LHX.N) $4.7 billion deal for Aerojet Rocketdyne Holdings (AJRD.N). The letter was sent to Defense Secretary Lloyd Austin and William LaPlante, undersecretary of defense for acquisition and sustainment. In addition to Warren, the letter was signed by Representatives Chris Deluzio, John Garamendi and Mark Pocan. With the Ukraine war driving up demand for missiles and defense systems, Aerojet became an attractive takeover target. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications.
Persons: Elizabeth Warren, Warren, Lockheed Martin, Lloyd Austin, William LaPlante, Chris Deluzio, John Garamendi, Mark Pocan, Aerojet, Diane Bartz, David Gregorio Our Organizations: Defense Department, L3Harris Technologies, Aerojet Rocketdyne Holdings, The Defense Department, Raytheon, Boeing, Defense, L3 Technologies, Harris Corp, United, National Aeronautics and Space Administration, NASA, Thomson Locations: Ukraine, United States
☆ Defense firm L3Harris to buy Aerojet for $4.7 bln with eye on missile demand
  + stars: | 2022-12-19 | by ( ) www.reuters.com   time to read: +2 min
Dec 18 (Reuters) - U.S. defense contractor L3Harris Technologies Inc (LHX.N) said on Sunday it would buy Aerojet Rocketdyne Holdings Inc (AJRD.N) in a $4.7 billion all-cash transaction, as it looks to tap into rising demand for missiles amid the Ukraine conflict. Reuetrs had first reported on Saturday that L3Harris was nearing the deal to acquire U.S. rocket maker Aerojet. The deal, which is expected to be completed in 2023, would add on to L3Harris' Space & Airborne Systems unit, which makes electronic warfare equipment and avionics sensors. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications. Aerojet makes the RS-25 engines for NASA's launch vehicle, as well as the RL10 engines that power launch vehicles made by United Launch Alliance, a joint venture between Boeing Co (BA.N) and Lockheed Martin.
☆ Exclusive: L3Harris nears $4.7 billion deal to acquire Aerojet Rocketdyne
  + stars: | 2022-12-17 | by ( David Carnevali Mike Stone | David Carnevali | Mike Stone | ) www.reuters.com   time to read: +3 min
Dec 17 (Reuters) - L3Harris Technologies Inc (LHX.N) is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), 10 months after the latter's $4.4 billion sale to Lockheed Martin Corp (LMT.N) fell through, people familiar with the matter said on Saturday. L3Harris is a defense contractor that is mostly a competitor rather than a customer of Aerojet. Aerojet's solid fuel rocket motors and other propulsion systems would help L3Harris expand its space defense systems and precision munitions businesses. Spokespeople for Aerojet, L3Harris and General Electric did not immediately respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).
☆ Here's why Cramer thinks defense stock L3Harris Technologies is a buy
  + stars: | 2022-10-13 | by ( Krystal Hur | ) www.cnbc.com   time to read: +1 min
CNBC's Jim Cramer on Thursday gave investors his blessing to buy shares of L3Harris Technologies , an aerospace and defense play. Cramer said that the stock, which he's liked since three years ago when Harris Corp and L3 Technologies merged into one firm, is also particularly attractive right now because it's fairly recession proof. They feed at the federal trough, meaning they don't have to care too much about the broader economy," he said. He added that the stock has come down dramatically since its highs in March, when Russia's invasion of Ukraine propelled the stock from $210 to just under $280. However, Cramer said that he's still bullish on L3Harris Technologies long-term, especially because of the demand that Russia's invasion of Ukraine will likely create for governments looking to replenish their arsenals after sending aid to Ukraine.
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