(Reuters) - Lockheed Martin Corp said on Sunday it has agreed to buy U.S. rocket engine manufacturer Aerojet Rocketdyne Holdings Inc for $4.4 billion, including debt and net cash.
The deal is Lockheed's biggest acquisition since Jim Taiclet took over as chief executive in June. He is seeking to beef up the company's propulsion capabilities amid competition from new entrants such as SpaceX and Blue Origin, for space contracts with the U.S. government.