A monthly round-up of space industry developments for the
information of our clients and friends.
ORBITAL AND ATK TO MERGE
On April 29, Orbital Sciences Corporation (Orbital) announced
that it entered into a definitive agreement with Alliant
Techsystems Inc. (ATK) whereby Orbital will combine with ATK's
Aerospace and Defense Groups to create a $4.5b, 13,000 employee
space, defense and aviation systems developer and manufacturer. The
transaction, valued at approximately $5b, will be carried out as a
tax-free stock-for-stock merger and will include the spin-off of
ATK's Sporting Group, which focuses on commercial sporting
equipment, to its shareholders. The new company will be called
Orbital ATK, Inc. and will serve both U.S. and international
markets for space launch vehicles, propulsion systems, tactical
missiles and satellites and space systems, among other products.
Analysts have noted that the merger, which advances Orbital's
desire to increase vertical
