Summary
Northrop Grumman Corporation (NOC) announced the successful completion of its acquisition of Orbital ATK, Inc. on June 6, 2018. This significant transaction was executed through a merger agreement where Orbital ATK, renamed Northrop Grumman Innovation Systems, Inc., now operates as a wholly owned subsidiary. The acquisition was an all-cash deal, with Orbital ATK shareholders receiving $134.50 per share. This move is expected to significantly bolster Northrop Grumman's capabilities and market position, particularly in space and defense technologies. Investors should note that the company has indicated it will file the financial statements and pro forma financial information related to this acquisition in an amendment to this 8-K filing within 71 days. This acquisition represents a major strategic step for Northrop Grumman, integrating Orbital ATK's complementary business to enhance its product offerings and competitive landscape.
Key Highlights
- 1Northrop Grumman has officially completed the acquisition of Orbital ATK, Inc. as of June 6, 2018.
- 2Orbital ATK has been renamed Northrop Grumman Innovation Systems, Inc. and is now a wholly owned subsidiary.
- 3The acquisition was an all-cash transaction where Orbital ATK shareholders received $134.50 per share.
- 4All outstanding Orbital ATK stock options, restricted stock, performance shares, deferred stock units, and phantom stock units were converted into cash payments.
- 5The company will file the required financial statements and pro forma financial information for the acquired business in a future amendment to this 8-K.
- 6A press release announcing the completion of the merger was issued on June 6, 2018.