On September 18, Northrop Grumman Corporation (Northrop) announced that it entered into an agreement to acquire Orbital ATK, Inc. (Orbital) for $9.2b, consisting of a $7.8b cash payment and assumption of $1.4b in net debt. Orbital shareholders will receive all-cash consideration of $134.50 per share, representing a premium of more than 20% over the Orbital share price of $110 as of September 15. The acquisition affords Northrop space capabilities that are considered complementary to its existing defense business. Upon closing of the acquisition, expected in the first half of 2018, Northrop plans to integrate Orbital as a fourth business sector alongside aerospace systems, mission systems and technology services. Read more related news in Space Business Review September 2017.
