Orbital ATK Stockholders Approve Merger with Northrop Grumman

DULLES, Va., 29 November 2017 (Orbital ATK PR)– Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense technologies, today announced that its stockholders overwhelmingly approved the merger agreement providing for the proposed acquisition of Orbital ATK by Northrop Grumman Corporation (NYSE:  NOC) at a special meeting of stockholders held on November 29, 2017.

Holders of more than 99% of Orbital ATK’s common stock present at the meeting or represented by proxy voted in favor of approving and adopting the merger agreement, which represented approximately 79% of the total number of outstanding shares of Orbital ATK’s common stock as of the October 10, 2017 record date for the special meeting.

“The acquisition of Orbital ATK by Northrop Grumman creates substantial value for our stockholders and enhances our capability to accelerate product development and technology innovation in support of our customers’ critical missions. The transaction also enables our employees to benefit from new opportunities and career paths as part of a larger and more diverse aerospace and defense company,” said David W. Thompson, Orbital ATK’s President and Chief Executive Officer.

The company expects the transaction to close in the first half of 2018, pending receipt of regulatory approvals.

About Orbital ATK

Orbital ATK is a global leader in aerospace and defense technologies.  The company designs, builds and delivers space, defense and aviation systems for customers around the world, both as a prime contractor and merchant supplier.  Its main products include launch vehicles and related propulsion systems; missile products, subsystems and defense electronics; precision weapons, armament systems and ammunition; satellites and associated space components and services; and advanced aerospace structures. Headquartered in Dulles, Virginia, Orbital ATK employs approximately 13,000 people across the U.S. and in several international locations.  For more information, visit www.orbitalatk.com.

  • ThomasLMatula

    If the merger is approved that would make Orbital/ATK/Northrop/Grumman the owner of Scaled Composites, which seems strange 🙂

  • OldCodger

    Short term gain for the shareholders maybe but the continued consolidation in to fewer and fewer overly large firms is never good in the long term for the industry, the customers or the country.

  • SamuelRoman13

    Wonder what NG will do with the NGL launcher. There was only 8 large GEO commercial Sats ordered so far this year. No business for them there. Maybe USAF will keep it going. Maybe SpaceX might be hurting if that continues. Shotwell said they are waiting to see if that is permanent.

  • Jeff2Space

    Solids are not a good thing on such a big launcher. The bigger they get, the more vibrations they generate. Watch any in cockpit video of a shuttle launch and anyone can see just what happens after SRB separation.

    The ATK bit of this company has one big hammer and it’s always looking for something to hit. But hitting a screw with a hammer seems daft.

  • My guess is that if the USAF funds it, they’ll be full steam ahead and retire the Antares as quickly as possible. They are already qualifying the composite cases for their SRB-derived stages, so they can cross sell those too. NGL will be fine for the medium/heavy market, while things like FH/Vulcan are better suited for heavy/superheavy lift. Can they get the cost down or a short turnaround to get additional sales? That’ll be the question.

  • Spacetech

    Northrop Grumman acquired Scaled Composites back in 2007.

  • ThomasLMatula

    I know, and they have left it alone so far. We will see if that continues or some manger gets the itch to meddle in it.