Justice Dept OKs Orbital Merger with ATK’s A&D Groups

rocket-launchThe Justice Department has approved a proposed merger between Orbital Sciences (NYSE: ORB) and ATK‘s (NYSE: ATK) aerospace and defense businesses.

Orbital and ATK expect to close the estimated $5 billion deal in February 2015, pending votes by shareholders at both companies next month and other customary closing conditions, Orbital said Thursday.

ATK has agreed to spin off its sporting group business into a new company that will be called Vista Outdoor Inc. and be led by ATK CEO Mark DeYoung as part of the transaction.

Orbital President and CEO David Thompson will lead the future Orbital ATK company, which he has said aims to offer technologies across the space, defense and aviation industries.

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