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Business/Financial

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

By Cal Biesecker

Tuesday, April 29th, 2014

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

Orbital ATK President and CEO David Thompson. Photo: Orbital ATK

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 Tuesday 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…

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