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Northrop Grumman agreed to buy Orbital ATK for $7.8 billion, bolstering the missile and space businesses of one of the US’s largest defence contractors.
Orbital holders will receive $134.50 a share in cash, the companies said in a statement Monday. The price is 22 per cent above the stock’s closing level Friday. Northrop also will assume $1.4 billion in net debt.
The deal for Orbital expands Northrop’s product line-up in areas such as rocket propulsion, composites and munitions. The announcement follows another major aerospace transaction after United Technologies said this month that it will buy Rockwell Collins for
Orbital holders will receive $134.50 a share in cash, the companies said in a statement Monday. The price is 22 per cent above the stock’s closing level Friday. Northrop also will assume $1.4 billion in net debt.
The deal for Orbital expands Northrop’s product line-up in areas such as rocket propulsion, composites and munitions. The announcement follows another major aerospace transaction after United Technologies said this month that it will buy Rockwell Collins for
