US defense contractor Northrop Grumman Corp said on Monday it would buy missile and rocket maker Orbital ATK Inc for about $7.8 billion in cash, giving it access to lucrative contracts with NASA and the US Army. The deal, which comes as North Korea tests threatening missiles, will also help Northrop increase its arsenal of missile defense systems and is a rare departure for the company, which has not made a large acquisition in several years. It last bought TRW Inc in 2002 for about $7.8 billion. The acquisition, which would establish Orbital as a new, fourth business sector under ...
Northrop Grumman to buy missile maker Orbital for $7.8 bn
The acquisition comes ahead of a likely jump in demand from the planned upgrades of US ballistic systems
Reuters Last Updated at September 18, 2017 23:04 IST