Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Eniola Odetunde/Axios

Lockheed Martin (NYSE: LMT) agreed to buy Aerojet Rocketdyne (NYSE: AJRD) for $4.4 billion in cash (including assumed debt).

Why it matters: This reflects how legacy defense companies are racing to keep up with Elon Musk and Jeff Bezos in space, a dynamic that also helped drive Raytheon's merger effort with United Technologies Corp. Plus, this is the exact type of company that will be seeking Space Force bids, maybe getting cool branding logos on the Guardian outfits.

Details: Lockheed will pay $56 per share (33% premium over Friday's closing price), which will be reduced to $51 after payment of a pre-closing dividend.

Flashback: Aerojet in 2015 offered to pay $2 billion to buy a rocket launch joint venture between Boeing and Lockheed, but was rebuffed by Boeing.

The bottom line:

"The acquisition signals Lockheed’s continued interest in the areas of hypersonic weapons and space — two major technology development priorities for the Defense Department and two areas of increased investment in recent years. In particular, the acquisition would add 'substantial expertise' to Lockheed in the area of propulsion, as Aerojet’s engines are already part of its supply chain across the company’s space, aeronautics and missile and fire control business units."
Valerie Insinna of DefenseNews

Go deeper

Miriam Kramer, author of Space
Jan 26, 2021 - Science

The coming land rush in space

Illustration: Aïda Amer/Axios

Space is the new Wild West. Nations and space companies are racing to come to a consensus on what they can own, mine and take possession of in outer space before competitors stake ground first.

Why it matters: Private companies are building their businesses on sending spacecraft to the Moon, asteroids and other objects in the coming years to eventually extract resources that will be used or sold.

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.