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David Thompson: Orbital-ATK Deal Could Close in January

David Thompson
David Thompson

The planned merger of Orbital Sciences (NYSE: ORB) with ATK‘s (NYSE: ATK) aerospace and defense groups could close in January if the companies receive regulatory approvals for the deal during the December holiday season, Orbital CEO David Thompson said Thursday.

Thompson also said that transition teams from both companies are “continuing to target the end of the calendar year to complete all required regulatory reviews.”

Orbital and ATK announced the estimated $5 billion deal in April to create the aerospace and defense-focused “Orbital ATK, ” led by Thompson, and see ATK’s sporting group become an independent company led by current ATK CEO Mark DeYoung.

Thompson made his comments as Orbital released financial results from the third quarter of its 2014 fiscal year, which saw the company’s revenue increase by 5 percent from the prior year period and profit rise 35.9 percent in that same timeframe.

Revenue in the Dulles, Virginia-based company’s launch vehicle segment rose 2 percent from the prior year period and the satellites and space systems segment saw its revenue jump 20 percent.

The stock price of Orbital, one of 30 companies listed on Executive Mosaic’s GovCon Index,  was up 3.4 percent at 27.62 as of late Wednesday morning.

ATK, which is relatively flat from Tuesday’s closing number, is scheduled to release its financial results Oct. 30.

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