Aerojet Makes $2 Billion bid for Boeing, Lockheed Joint Venture

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Aerojet Rocketdyne Holdings Inc. reportedly has made a $2 billion bid to buy a joint venture of Boeing Co. and Lockheed Martin Corp. that provides spacecraft launch services.

An Aerojet Rocketdyne board member contacted United Launch Alliance as well as senior Boeing and Lockheed executives about the offer in early August, sources told Reuters.

boeingBoeing and Lockheed created United Launch Alliance in 2005. The joint venture company is facing increased competition from SpaceX that could impact its future earnings and might cause it to welcome the unsolicited bid from Aerojet Rocketdyne, the sources told Reuters.

(Source: Business Journal)