US Department of Justice Clears Merger of Orbital and ATK
[Via Satellite 12-05-2014] The United States Department of Justice (DOJ) has unconditionally cleared ATK’s Aerospace and Defense Group to merge with Orbital Sciences. The U.S. Federal Trade Commission (FTC) and DOJ also terminated the Hart-Scott-Rodino waiting period.
Orbital Sciences and ATK announced plans to merge in April 2014 to create Orbital ATK. Once complete, ATK’s Sporting Group business will spin-off to ATK stockholders to become Vista Outdoor Inc.
Following Orbital Sciences October launch failure of Antares, both companies reaffirmed their desires to continue with the merger. Executives from Orbital Sciences and ATK have urged stockholders to approve the transaction at special Jan. 27, 2014 meetings. Both companies anticipate concluding the merger in February 2015.