• PT Youtube
  • CW Facebook
  • CW Linkedin
  • CW Twitter
2/2/2015 | 1 MINUTE READ

Orbital stockholders approve merger with ATK Aerospace and Defense

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

With approval from both companies complete, the merger is expected to close on Monday, Feb. 9, with the new company, Orbital ATK Inc., officially coming into existence on Tuesday, Feb. 10.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Orbital Sciences Corp. (Dulles, VA, US) announced on Jan. 27 that at a special meeting held on the 27th, the company’s stockholders voted overwhelmingly to approve the proposed merger with the Aerospace and Defense Groups of Alliant Techsystems Inc., pursuant to the definitive transaction agreement dated April 28, 2014. Approximately 99% of the votes cast at the special meeting voted in favor of the adoption of the transaction agreement, which represented approximately 85% of the total number of outstanding shares of Orbital common stock as of the Dec. 16, 2014 record date for the special meeting.

“Today, Orbital’s stockholders endorsed the proposed merger with ATK’s Aerospace and Defense Groups by voting strongly in favor of the transaction, as did ATK shareholders at a separate special meeting also held earlier today,” says David W. Thompson, Orbital’s chairman and CEO. “We are now on a clear path to completing the merger and beginning operations of Orbital ATK two weeks from today.”

Subject to the satisfaction or waiver of the remaining conditions to closing, the merger is expected to close on Monday, Feb. 9, 2015. Assuming completion of the merger, shares of Orbital common stock are expected to be delisted after the close of trading on Feb. 9. As a result of the merger, each share of Orbital common stock will be converted into the right to receive 0.449 shares of common stock of ATK, with cash paid in lieu of fractional shares. At closing of the merger, ATK will be renamed Orbital ATK Inc. and shares of Orbital ATK common stock will trade under the new ticker symbol “OA” on the New York Stock Exchange beginning Feb. 10. 

RELATED CONTENT

  • Fabrication methods

    There are numerous methods for fabricating composite components. Selection of a method for a particular part, therefore, will depend on the materials, the part design and end-use or application. Here's a guide to selection.

  • Out-of-autoclave prepregs: Hype or revolution?

    Oven-cured, vacuum-bagged prepregs show promise in production primary structures.

  • Ceramic-matrix composites heat up

    Lightweight, hard and stable at high temperatures, CMCs are emerging from two decades of study and development into commercial applications.

Related Topics

Resources