GenCorp To Pay $550M For United Technologies’ Rocketdyne

Law360, New York (July 23, 2012, 3:58 PM EDT) -- California aerospace giant GenCorp Inc. has agreed to acquire the Pratt & Whitney Rocketdyne engineering unit from Hartford, Conn.-based United Technologies Corp. for $550 million, both companies announced Monday.

Sacramento-based GenCorp will acquire PWR, which provides design and manufacturing services in the aircraft engine, industrial gas turbine and space propulsion industries, with a combination of cash on hand and new debt to be issued, it said.

The deal is expected to close in the first half of 2013 and will be accretive to GenCorp's earnings in...
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