L3Harris CEO draws hard line against fixed-price development contracts
Eyeing risks of losses, L3Harris' Chris Kubasik said, "I think the industry as a whole is going to continue to no-bid these contracts until [DoD uses] the right vehicles.”
L3Harris to reply to FTC’s second request on Aerojet deal around June, CEO says
The Federal Trade Commission formally made a second request for information last month as it evaluates antitrust concerns associated with L3Harris acquiring one of only two major suppliers of solid rocket motors for the Pentagon.
Modernizing defense enterprise IT without disrupting the mission
Government can’t stop to update systems, so modernization has to happen without interruptions.
Supply chain ‘getting a hell of a lot better,’ Raytheon CEO says, though challenges remain
Raytheon executives said they see improvement for components like electronics, though shortages continue for castings, rocket motors and other key parts.
From an Afghan pilot’s ordeal to an ejection seat conundrum: 5 stories from 2022
Beyond actual aviation news, I will continue to mention Taylor Swift in these lists until my editors force me to stop. [Editor's Note: Fine.]
L3Harris acquiring Aerojet Rocketdyne for $4.7B
The deal, which is subject to approval by the Federal Trade Commission, is expected to close in 2023.
Aerojet CEO wins proxy war against exec chairman, preliminary results show
Preliminary results show that the eight person slate led by Aerojet CEO Eileen Drake captured about 75% of shareholder votes.
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Top Aerojet executives head to court as proxy war rages
“In terms of their vision for Aerojet, it’s not clear what the difference is between the two sides,” said Seth Seifman, an aerospace and defense analyst at J.P. Morgan. But “perhaps there’s some kind of opportunity … to influence shareholders one way or another.”
Inside the alleged ‘boardroom coup’ at Aerojet Rocketdyne
Legal documents viewed by Breaking Defense reveal the company's board is split into warring factions, each seeking to oust the other's leader in the wake of Aerojet's failed merger with Lockheed Martin.
New Pentagon report sends warning shot for defense consolidation, especially in hypersonics
The report comes just days after a major deal between Lockheed Martin and Aerojet Rocketdyne was scuttled thanks to government pressure.
Lockheed Martin walks away from $4.4B Aerojet Rocketdyne acquisition
Lockheed's decision could leave Aerojet looking for another buyer as it tries to manage an internal struggle between executives.
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If Aerojet merger fails, Lockheed to look for other acquisition opportunities
If the Aerojet acquisition “doesn't come to fruition, we'll look at our available capital and we'll apply it to the next highest best use,” which could be further mergers and acquisition, said Lockheed CEO Jim Taiclet.
With Lockheed deal in doubt, Aerojet faces internal crisis
“The near-term future of Aerojet depends on which faction within the company succeeds in asserting control,” said defense consultant Loren Thompson. But ultimately, he added, the long-term future of the company will be contingent on finding a new buyer “with big pockets."
Lockheed-Aerojet merger on life support, facing FTC lawsuit
"We cannot afford to allow further concentration in markets critical to our national security and defense," an FTC official said.
Lockheed’s Acquisition of Aerojet Rocketdyne Delayed
“The Aerojet Rocketdyne transaction continues moving through the regulatory approval process, and we now anticipate closing in the first quarter of 2022,” said Lockheed CEO James Taiclet.