Hello, Guest!
  • Monday, November 25, 2024

Orbital ATK Shareholders OK $9.2B Merger With Northrop; David Thompson Comments


Shareholders at Orbital ATK (NYSE: OA) have approved a deal for Northrop Grumman (NYSE: NOC) to acquire the Dulles, Virginia-based aerospace and defense contractor in an estimated $9.2 billion transaction.

Holders of at least 99 percent of shares in Orbital ATK voted to approve the merger during the Wednesday meeting, the company said Wednesday.

Northrop will pay $7.8 billion in cash and assume $1.4 billion in net debt from Orbital ATK under the deal originally announced in September.

The transaction represented approximately 79 percent of Orbital ATK™s total outstanding shares as of Oct. 10.

David Thompson, president and CEO at Orbital ATK, said the merger seeks to advance technology innovation and product development in support of clients™ missions, provide career opportunities to employees and create value for stockholders.

Orbital ATK expects to close the transaction in the first half of 2018, subject to regulatory approvals.

Video of the Day

Related Articles

FTC Clears Northrop’s Orbital ATK Purchase M&A Activity

FTC Clears Northrop’s Orbital ATK Purchase

The Federal Trade Commission has given Northrop Grumman (NYSE: NOC) antitrust approval to proceed with its proposed $9.2 billion acquisition of Orbital ATK (NYSE: OA). Northrop said Tuesday the FTC clearance calls for it to make solid-rocket motors available to competitors on œa non-discriminatory basis and that it expects to close the deal after market close on Wednesday.

Orbital ATK Gets $171M Navy Contract Option for Lot 7 Updated Anti-Radiation Missiles Contract Awards

Orbital ATK Gets $171M Navy Contract Option for Lot 7 Updated Anti-Radiation Missiles

Orbital ATK (NYSE: OA) has received a two-year, $171.2 million contract option to produce a seventh batch of Advanced Anti-Radiation Guided Missile systems for the U.S. Navy and foreign military sales customers. The company will convert 271 AGM-88B High Speed Anti-Radiation Missiles from the Navy into 253 AGM-88E AARGM all-up-rounds and eight Captive Air Training Missiles, the  Defense Department said Wednesday.

State Dept OKs $180M in F-16 Training Support, Precision Guided Kit Requests From Netherlands Contract Awards

State Dept OKs $180M in F-16 Training Support, Precision Guided Kit Requests From Netherlands

The State Department has approved two foreign military sales agreements worth approximately $180 million combined for the Dutch government to buy from the U.S. government M1156 precision guided kits as well as defense services and articles in support of its air force™s F-16 training unit. The Netherlands requested to purchase GBU-12 Inert Paveway II laser-guided