Aerojet Rocketdyne could lay off as many as 225 employees by March as it streamlines operations.
Aerojet parent company GenCorp Inc. purchased Pratt & Whitney Rocketdyne in a $550 million transaction that will leave just two major players standing after more than a decade of consolidation in the U.S. rocket propulsion industry.
GenCorp Inc. is free to proceed with its $550 million acquisition of rocket engine manufacturer Pratt & Whitney Rocketdyne from United Technologies Corp. after the FTC closed an investigation into whether the transaction would lead to an anti-competitive marketplace.
European aerospace firms EADS and BAE Systems called off their planned $45 billion merger Oct. 10, just one month after Leiden, Netherlands-based EADS announced its intention to create the world’s largest defense contractor by adding London-based BAE to a portfolio that already includes Airbus, Astrium and others.
LONDON, PARIS and WASHINGTON — Despite ongoing uncertainty surrounding the massive deal being discussed by Britain’s BAE Systems and EADS, shareholders of both companies’ stock have not hesitated to act, with sharp adjustments to share prices occurring as news of negotiations broke.
SAN FRANCISCO — Competition for the Google Lunar X Prize is heating up with the May 30 announcement of the first major acquisition of one team by another and widespread discussion among team leaders of additional mergers.