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Aerojet Rocketdyne Stockholders Approve Proposed Acquisition by L3Harris

Benzinga

March 16, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. NYSE: AJRD ) (or the "Company") announced that at a special meeting held today, its stockholders voted to approve the Company's proposed acquisition by L3Harris Technologies (NYSE: LHX ). Drake, CEO and president of Aerojet Rocketdyne.

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Chancery Pushes Deadlocked Aerojet To Parse Resource Split

Law 360 M&A

Delaware's Chancery Court pushed the divided board of Aerojet Rocketdyne Holdings Inc. on Monday to explain how much power, company resources and access to third-party advisers each side of the deadlocked board should have.

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Aerojet CEO Warns Chancery Of Board Rival's Takeover Bid

Law 360 M&A

Aerojet Rocketdyne Holdings Inc.'s s CEO warned the Delaware Chancery that the board's executive chairman is looking to increase his stake in the company to 34% amid a fierce battle for company control that has fractured the board.

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Aerojet Chair Largely Wins Chancery Suit In CEO Proxy Battle

Law 360 M&A

Aerojet Rocketdyne Holdings Inc.'s s CEO and her allies violated a Delaware Chancery Court temporary restraining order by using the company's resources in a contentious board election, a vice chancellor ruled Thursday, handing a win to the board's chairman, the CEO's rival in the race.

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Aerojet CEO Reportedly Offers $48M Deal To End Control War

Law 360 M&A

Aerojet Rocketdyne Holdings Inc. CEO Eileen Drake is reportedly in talks to end a bitter Delaware Chancery Court company control fight in exchange for $48 million deal that includes a five-year consulting agreement, a source familiar with the development said late Tuesday.

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Aerojet Chair Began CEO Hunt Without Approval, Probe Finds

Law 360 M&A

Aerojet Rocketdyne Holdings Inc.'s s executive chairman began looking to replace the company's CEO amid disagreements over the now-abandoned merger with Lockheed Martin Corp., despite prior instructions from the board of directors to cease such discussions, a board committee's memo reprimanding the chair said.

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Chancery Nixes Aerojet CEO's Bid For Neutral Counsel

Law 360 M&A

Aerojet Rocketdyne Holdings Inc.'s s board chairman will preside over an upcoming meeting where shareholders will vote for directors, the Delaware Chancery Court ruled Monday, rejecting a bid from the chair's rival, the company's CEO, for neutral counsel to conduct the meeting.

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