Sacramento's prestigious Aerojet company is being sold.
The Maryland-based Lockheed Martin Corporation announced yesterday they will be taking over Aerojet Rocketdyne Holdings. The deal is valued at over four-billion dollars. Aerojet is a rocket engine manufacturer that took part in the race to the moon. Lockheed chief executive James Taiclet says the deal will amplify the company as a leading provider of 21st century warfare solutions. Aerojet CEO Eileen Drake says this is a natural next phase.