Lockheed Martin to Acquire Aerojet Rocketdyne for $4.4 Billion

That’s a pretty small amount of money for the company, and it’s interesting to put it in context: Aerojet Rocketdyne tried to buy ULA for $2 billion back in 2015.

Aerojet Rocketdyne acquiring ULA would have been much more healthy for the aerospace industry than this acquisition, which is no doubt bolstered by Northrop Grumman’s acquisition of Orbital ATK raising few-to-no eyebrows. Big prime contractors acquiring propulsion partners is all the rage these days.

These kinds of acquisitions seem to me to come with two truths: they’re always way less about space than we like to think, and they always change less than we like to imagine.