Aerojet Rocketdyne Holdings Inc. (AJRD, Financial) (4.5% of net assets as of December 31, 2022) (AJRD – $55.93 – NYSE) (Cv., 2.25%, 12/15/2023), based in El Segundo, California, is a manufacturer of aerospace and defense products and systems for defense and space applications. The manufacturing operation is a leading technology based designer, developer, and manufacturer of aerospace and defense products for the U.S. government, including the Department of Defense and NASA. AJRD also manufacturers products for other governmental contractors and the commercial sector. On December 18, 2022, the company announced it had agreed to be acquired by L3Harris for $58 per share, in an all-cash transaction valued at $4.7 billion, inclusive of debt. The transaction is expected to close in 2023.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund fourth-quarter 2022 commentary.
