Here's Why Orbital ATK Stock Is Skyrocketing Today
Shares of Orbital ATK (NYSE: OA) are soaring today, up 21% as of 11:41 a.m. EDT to around $132.73 per share, following the announcement that fellow defense contractor Northrop Grumman (NYSE: NOC) has agreed to acquire the company for $134.50 per share in cash.
Northrop Grumman has offered to acquire all the outstanding shares of Orbital ATK in an all-cash deal valuing the company at $7.8 billion, plus the assumption of $1.4 billion of net debt. The companies expect the transaction to close in the first half of next year, assuming regulatory and shareholder approval. Northrop Grumman has secured fully committed debt financing for the transaction and expects to put permanent funding in place before closing.
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Source: Fool.com
Northrop Grumman Corp. Stock
The stock is an absolute favorite of our community with 33 Buy predictions and no Sell predictions.
As a result the target price of 625 € shows a positive potential of 32.44% compared to the current price of 471.9 € for Northrop Grumman Corp..
