L3Harris Statement on Aerojet Rocketdyne Shareholder Vote

Rhea-AI Summary

Aerojet Rocketdyne's shareholders have approved all proposals necessary for L3Harris Technologies to proceed with the acquisition. This marks a significant milestone in the acquisition process, with integration planning already underway according to L3Harris CEO Christopher E. Kubasik. The company is currently addressing inquiries from the Federal Trade Commission as they aim for a swift closing.

Positive

• Shareholder approval of acquisition proposals indicates strong support for the deal.
• Integration planning is already in progress, suggesting a proactive approach to the merger.

Negative

• The acquisition's closing is subject to risks and uncertainties, as indicated by forward-looking statements.

MELBOURNE, Fla.--(BUSINESS WIRE)-- Today Aerojet Rocketdyne (NYSE: AJRD) shareholders overwhelmingly approved all necessary proposals to complete L3Harris Technologies’ (NYSE: LHX) acquisition of the company.

“The shareholder vote represents a key milestone in the acquisition process, and integration planning is underway,” said Christopher E. Kubasik, Chair and CEO, L3Harris. “We continue to respond to Federal Trade Commission inquiries as we move toward an expeditious closing.”

About L3Harris Technologies

L3Harris Technologies is a Trusted Disruptor for the global aerospace and defense industry. With customers’ mission-critical needs always in mind, our 46,000 employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains.

Forward-Looking Statements

This news release contains forward-looking statements that reflect management's current expectations. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results or outcomes to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about closing timing are forward-looking and involve risks and uncertainties. Important risk factors that could cause actual results or outcomes to differ from those expressed in the forward-looking statements are described in the “Risk Factors” sections of the company’s Annual Report on Form 10-K for the year ended December 30, 2022. The forward-looking statements speak only as of the date of this press release, and L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005740/en/

Mark Kratz

Investor Relations

Mark.Kratz@L3Harris.com

321-727-9383



Paul Swiergosz

Media Relations

Paul.Swiergosz@L3Harris.com

321-378-5631

Source: L3Harris Technologies

FAQ

What recent approval did Aerojet Rocketdyne receive related to L3Harris Technologies?

Aerojet Rocketdyne's shareholders overwhelmingly approved all proposals necessary to complete its acquisition by L3Harris Technologies.

What is the stock symbol for Aerojet Rocketdyne and L3Harris Technologies?

Aerojet Rocketdyne's stock symbol is AJRD, and L3Harris Technologies' stock symbol is LHX.

What does the approval of acquisition proposals mean for L3Harris Technologies?

The approval represents a key milestone in the acquisition process, allowing integration planning to commence.

Are there any risks associated with the L3Harris acquisition of Aerojet Rocketdyne?

Yes, the closure of the acquisition is subject to various risks and uncertainties, according to forward-looking statements.