Business

December 1, 2017
 

Orbital ATK shareholders vote to approve acquisition by Northrop Grumman

Orbital ATK shareholders voted overwhelmingly Nov. 29 to approve the merger agreement between the company and Northrop Grumman.

Holders of more than 99 percent 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 percent of the total number of outstanding shares of Orbital ATK’s common stock as of the Oct. 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,” said David W. Thompson, president and CEO of Orbital ATK. “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.”

The company expects the transaction to close in the first half of 2018, pending receipt of regulatory approvals.

Northrop’s Chairman, CEO and President, Wes Bush said the agreement will benefit customers, shareholders and employees.

“We are delighted to see that Orbital ATK’s shareholders have approved the proposed acquisition,” he said.“Bringing together these two great companies will benefit our customers, shareholders and employees.The combination will provide increased competition, greater innovation and a broader set of capabilities, to help our customers solve their toughest challenges.”




All of this week's top headlines to your email every Friday.


 
 

 
Lockheed Martin photograph

Lockheed Martin reaches technical milestone for long range discrimination radar

Lockheed Martin photograph The Solid State Radar Integration Site at Lockheed Martin’s Moorestown, N.J., facility Lockheed Martin’s Long Range Discrimination Radar has completed a closed loop satellite track with tactical h...
 
 
Airbus photograph

Northrop Grumman, Airbus finalize agreement on ‘wing of tomorrow’ program

Airbus photograph Northrop Grumman finalized a Cooperation and Research Agreement (CRA) with Airbus on the Wing of Tomorrow program for future potential high-rate production opportunities. Northrop Grumman announced Oct. 16 it ...
 
 
Lockheed Martin photograph by Todd R. McQueen

Pallas Aviation announced as launch operator for Lockheed Martin LM-100J commercial freighter

Lockheed Martin photograph by Todd R. McQueen Lockheed Martin announced that Pallas Aviation will be the launch operator of the LM-100J commercial freighter. Seen here is Emory Ellis, president of Pallas Aviation, with the LM-1...