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>> TIME, INC. Latest News

APR 29, 2014 - TheStreet

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ATK to Merge With Orbital, Spin Sporting Business

NEW YORK (The Deal) -- Orbital Sciences and Alliant Techsystems , two companies that have weathered a slowdown in government spending, said Tuesday they intend to combine in a deal that would create a $4.5 billion-sales space and defense juggernaut. Deal terms call for Arlington, Va.-based Alliant, or ATK, to swap 0.449 of its shares for each share of Dulles, Va.-based Orbital, valuing Orbital at about $2.3 billion. Post-deal, current ATK shareholders will own about 53.8% of the combined company, to be called Orbital ATK Inc. In conjunction with the merger, ATK said it intends to spin ... Read More

Tags: ATK to Merge With Orbital, Spin Sporting Business,  Time, Inc. Latest News