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ATK To Divest Sporting Business, Merge Aerospace And Defense Group With Orbital In $5 Billion Deal

Defense Daily Staff Defense Daily Staff
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Adding some momentum to what has been a slumbering market in mergers and acquisition in the aerospace and defense industry, ATK [ATK] and Orbital Sciences [ORB] on April 29 announced a $5 billion all-stock merger of their companies, minus ATK’s sporting business which will be spun-off to its shareholders. The new Orbital ATK, a mid-tier defense and space company that is expected to stand up later this year pending approvals by regulators and each companies’ boards, will have $4.5 billion in sales, 13,000 employees…

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