Orbital ATK stockholders approve acquisition by Northrop Grumman Corporation
(29 November 2017 - Orbital ATK) Orbital ATK today announced that its stockholders overwhelmingly approved the merger agreement providing for the proposed acquisition of Orbital ATK by Northrop Grumman Corporation 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.