Aerojet Rocketdyne jumps on report it is soliciting buyout offers

Aerojet Rocketdyne Holdings

25/10/2022 14:30

** Shares of rocket engine maker Aerojet Rocketdyne Holdings
Inc  AJRD.N  up 7.2% at $48.6 premarket
    ** Stock expected to open at its highest since June 2021
    ** AJRD soliciting offers from potential suitors, including
private equity firms, Reuters reports, citing people familiar
with the matter  urn:newsml:reuters.com:*:nL1N31P2E1
    ** Working with advisers on an auction process and asked for
indications of acquisition interest earlier this month - report 
    ** Lockheed Martin's  LMT.N  bid for Aerojet was blocked by
antitrust regulators in February
    ** AJRD has a market cap of $3.65 bln as of Tuesday,
according to IBES Refinitv data
    ** Up to Monday's close, stock down 3% YTD compared with an
18.9% decline in the S&P 600 Small Cap index  .SPCY 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))