[QUOTE][CENTER] [SIZE=6][COLOR=#438CCB][B]Northrop Grumman to Acquire Orbital ATK for $9.2 Billion[/B][/COLOR][/SIZE] [/CENTER] [CENTER] [/CENTER]
[B]• Combination enhances capabilities, innovation and competition for customers[/B]
[B]• Meaningful shareholder value creation opportunity driven by strategic fit, revenue synergies fr om new opportunities, and cost savings[/B]
[B]• Expected to be accretive to EPS and FCF per share in first full year; estimated annual cost savings of $150 million by 2020 [/B]
[B]• Strong combined cash flow generation supports financial flexibility and continued execution of capital deployment strategy[/B]
[B]• Conference call scheduled for Monday, September 18, at 8:30 a.m. Eastern Time[/B]
FALLS CHURCH and DULLES, Va. – Sept. 18, 2017 – Northrop Grumman Corporation (NYSE: NOC), a leading global security company, and Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and defense technologies, today announced they have entered into a definitive agreement under which Northrop Grumman will acquire Orbital ATK for approximately $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Orbital ATK shareholders will receive all-cash consideration of $134.50 per share. The agreement has been approved unanimously by the Boards of Directors of both companies. The transaction is expected to close in the first half of 2018 and is subject to customary closing conditions, including regulatory and Orbital ATK shareholder approval.