Northrop Grumman nears $7.5 billion deal for Orbital ATK

Ivan Schwartz
September 19, 2017

The deal comes on the heels of another big defense merger: Earlier this month, United Technologies Corporation (NYSE: UTX) said it was buying Rockwell Collins, Inc.

Orbital has billion-dollar contracts with NASA as well as the U.S. Army.

The U.S. military on Monday flew advanced bombers and stealth jets over the Korean Peninsula and near Japan, three days after North Korea fired a missile over Japan. Virginia-based Orbital ATK is an aerospace and defense company that manufactures everything from ammunition to rockets to satellites.

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The offer of $134.50 per Orbital share represents a premium of 22 percent over the stock's Friday close.

Orbital shares were up almost 20% premarket.

Falls Church, Virginia-based Northrop said Monday it will pay $7.8 billion in cash and assume $1.4 million in net debt from Orbital ATK under the transaction. It appears the company will join most major defense contractors that have seen shares hit all-time highs this year as clashes escalate.

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