DULLES, Va.Nov. 29, 2017--
Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense
technologies, today announced that its stockholders overwhelmingly
approved the merger agreement providing for the proposed acquisition of
Orbital ATK by Northrop Grumman Corporation (NYSE: NOC) at a special
meeting of stockholders held on November 29, 2017.
Holders of more than 99% 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% of the total
number of outstanding shares of Orbital ATK s common stock as of the
October 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. 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, said David W. Thompson,
Orbital ATK s President and Chief Executive Officer.
The company expects the transaction to close in the first half of 2018,
pending receipt of regulatory approvals.
About Orbital ATK
Orbital ATK is a global leader in aerospace and defense technologies.
The company designs, builds and delivers space, defense and aviation
systems for customers around the world, both as a prime contractor and
merchant supplier. Its main products include launch vehicles and related
propulsion systems; missile products, subsystems and defense
electronics; precision weapons, armament systems and ammunition;
satellites and associated space components and services; and advanced
aerospace structures. Headquartered in Dulles, Virginia, Orbital ATK
employs approximately 13,000 people across the U.S. and in several
international locations. For more information, visit www.orbitalatk.com.
Cautionary Statement Regarding Forward Looking Statements
This communication may contain forward-looking statements made pursuant
to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements often include the words
forecast, expect, believe, will, intend, plan, and words of
similar substance. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results or performance to
differ materially from those expressed in or contemplated by the
forward-looking statements, including the risk that the proposed
acquisition of Orbital ATK by Northrop Grumman may not be completed in a
timely manner or at all, which may adversely affect Orbital ATK s
business and the price of Orbital ATK s common stock; potential
increased costs, liability, or reputational harm associated with the
recent restatement of the company s financial statements; the company s
ability to maintain and grow its relationship with its customers;
reductions or changes in U.S. Government spending; changes in cost and
revenue estimates and/or timing of programs and payments; the potential
termination of U.S. Government contracts; failure to win or retain key
contracts; supply, availability, and cost of raw materials and
components; performance of subcontractors and other third parties;
development of key technologies; the costs and ultimate outcome of
contingencies, including litigation, government investigations and other
legal proceedings; and other risks described in Orbital ATK s filings
with the SEC. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof.
Source: Orbital ATK, Inc.
Orbital ATK, Inc.
Public and Investor Relations