Orbital ATK stockholders approve acquisition by Northrop Grumman
Shareholders of Dulles-based Orbital ATK Inc., a major aerospace and defense technologies company, have approved its proposed acquisition by Falls Church-based Northrop Grumman Corp.
On Wednesday, holders of more than 99 percent of Orbital ATK’s common stock present at the shareholder’s meeting or represented by proxy voted in favor of the merger agreement.
“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,” David W. Thompson, Orbital ATK’s president and CEO, said in a statement. “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 regulatory approvals.