The parent company of Aerojet Rocketdyne has offered to acquire the Boeing (NYSE: BA)-Lockheed Martin (NYSE: LMT) joint venture United Launch Alliance for approximately $2 billion in cash, the Wall Street Journal reported Tuesday.
Andy Pasztor and Dana Mattioli write Aerojet Rocketdyne and ULA are in “advanced talks” on the all-cash offer and could announce a transaction by next week.
Aerojet Rocketdyne supplies engines for ULA rockets and has sought to provide hardware for the joint venture’s future systems, according to the report.
WSJ reports ULA is facing increased competition from Elon Musk’s SpaceX company and other rocket suppliers that offer lower prices for launch services.
