Deals
Lockheed’s New CEO Surprises With $4.4 Billion Old-Space Deal
- Aerojet seen boosting offerings in missiles, space, hypersonic
- Acquisition gets mixed analyst reviews, sets up antitrust test
Photographer: Andrew Harrer/Bloomberg
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Lockheed Martin Corp.’s new chief executive officer has talked up his interest in artificial intelligence and advanced communications since taking the reins six months ago. But for his first major deal, Jim Taiclet chose a longtime supplier, Aerojet Rocketdyne Holdings Inc.
Adding Aerojet should bolster Lockheed’s capabilities in missile-defense batteries, hypersonic vehicles and space, where the defense giant has a venture with Boeing Co. that competes with Elon Musk’s SpaceX. Joining with Lockheed will unlock greater potential for Aerojet as a seller of propulsion systems to other industry players, Taiclet told investors Monday.