2023-03-16 16:39:32 ET
- Aerojet Rocketdyne Holdings ( NYSE: AJRD ) stockholders have approved the proposed acquisition by L3Harris Technologies ( NYSE: LHX ) in a special meeting held on Thursday.
- The aerospace and defense products company said that 99.7% of votes cast were in favor of the transaction.
- The Federal Trade Commission had requested a second review of the planned $4.7B sale, which extends the waiting period imposed by the Hart-Scott-Rodino Act until 30 days after the two companies have substantially complied with the request.
- Aerojet's proposed sale to Lockheed Martin had terminated in February on competition concerns.
- The AJRD-LHX transaction is still expected to close this year.
- AJRD shares were trading -0.45% post-market.
- Source: Press Release
For further details see:
Aerojet Rocketdyne shareholders approve sale to L3Harris