The European Commission has approved Northrop Grumman’s [NOC] pending $7.8 billion acquisition of Orbital ATK [OA], moving the deal one step closer to completion.
Northrop Grumman said it is still awaiting the U.S. Federal Trade Commission to complete its review of the deal, which was announced last September. The company expects the acquisition to close in the first half of 2018.
Orbital ATK’s shareholders voted in favor of the acquisition last November.
The acquisition will significantly enhance Northrop Grumman’s capabilities in missile defense solutions and is also expected to help the company in the area of satellites. Orbital ATK will also give Northrop Grumman capabilities in launch vehicles and propulsion systems, and in missiles and munitions.