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Northrop Grumman to acquire Dulles-based Orbital ATK for $9.2B
I know who used to work at a Grumman division before it became Northrop Grumman. He's at Orbital now. He'll be making a round trip.
Northrop Grumman to acquire Dulles-based Orbital ATK for $9.2B
Monday, Sep. 18, 2017 by Times-Mirror Staff
Powerhouse defense contractor Northrop Grumman announced today it plans to acquire Dulles-based Orbital ATK for $9.2 billion.
"The acquisition of Orbital ATK is an exciting strategic step as we continue to invest for profitable growth. Through our combination, customers will benefit from expanded capabilities, accelerated innovation and greater competition in critical global security domains,” said Northrop Grumman Chairman and CEO Wes Bush in a prepared statement.
The acquisition is still pending regulatory and Orbital ATK shareholder approval, but has been unanimously approved by the board of directors of both companies. Northrop Grumman will acquire Orbital ATK for roughly $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Orbital ATK shareholders will receive all-cash consideration of $134.50 per share, according Northrop Grumman.
Once the acquisition is complete, Northrop Grumman says it plans to establish Orbital ATK as a new fourth business sector.
Monday, Sep. 18, 2017 by Times-Mirror Staff
Powerhouse defense contractor Northrop Grumman announced today it plans to acquire Dulles-based Orbital ATK for $9.2 billion.
"The acquisition of Orbital ATK is an exciting strategic step as we continue to invest for profitable growth. Through our combination, customers will benefit from expanded capabilities, accelerated innovation and greater competition in critical global security domains,” said Northrop Grumman Chairman and CEO Wes Bush in a prepared statement.
The acquisition is still pending regulatory and Orbital ATK shareholder approval, but has been unanimously approved by the board of directors of both companies. Northrop Grumman will acquire Orbital ATK for roughly $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Orbital ATK shareholders will receive all-cash consideration of $134.50 per share, according Northrop Grumman.
Once the acquisition is complete, Northrop Grumman says it plans to establish Orbital ATK as a new fourth business sector.
