Aerojet, an exclusive-rocket manufacturer, invites offers for acquisition -sources By Stocksak

© Stocksak. FILE PHOTO. NASA’s next-generation moon launch, the Space Launch System with the Orion crew space capsule perched on top, stands at launch complex 39B prior to its rescheduled debut test flight for the Artemis 1 mission, Cape Canaveral (Florida, U.S.A. Sept

By David Carnevali

NEW YORK (Stocksak), Aerojet Rocketdyne Holdings Inc is the U.S. rocket manufacturer whose $4.4 Billion sale to Lockheed Martin According to people familiar, Corp (NYSE 🙂 was reblocked by antitrust regulators in February.

Aerojet, which supplies propulsion engines for NASA’s Artemis 1 lunar rocket, is currently working with advisers to create an auction process. The sources stated that they have asked for indications of interest in the acquisition of Aerojet earlier this month.

According to sources, the company has a market capitalization of $3.6 billion and may decide not sell itself if it does not receive an offer it considers attractive.

Because the matter is confidential, they requested not to be identified. Aerojet spokesperson declined comment.

Aerojet shares surged 7% to $48.46 in morning New York trading on Tuesday.

Aerojet is a manufacturer of liquid and solid rocket propulsion systems and hypersonic engines that can be used for commercial, military, and space applications. Customers include the Pentagon, Lockheed Martin, Raytheon Technologies (NYSE 🙂 Corp.

The El Segundo-based company, which is based in California, won the battle for control of its board over Warren Lichtenstein, but it still faces pressure to improve its performance. Elliott Investment Management, an activist hedge fund, disclosed that it had acquired a 3.7% stake at Aerojet in August.

Eileen Drake, Aerojet’s Chief Executive, stated that sales growth of “low to medium-single-digits” was the most likely for the company in September.

Drake stated that Aerojet’s defense gear will see more orders as the U.S. replenishes its stock after supplying Ukraine with weapons for its war against Russia.

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