Northrop Grumman Reportedly Nears Deal To Buy Orbital ATK For More Than $7.5 Bln

(RTTNews) - Defense contractor Northrop Grumman Corp. (NOC) is nearing an agreement to buy Orbital ATK Inc. for more than $7.5 billion, the Wall Street Journal reported, citing people familiar with the matter.

An all-cash tie-up between the two defense contractors could be announced Monday, the newspaper reported.

Orbital provides space rocket motors and other parts for offensive and defensive missile systems, as well as satellites for military and commercial space operations. It was formed in 2015 from the merger of two missile and space specialists, Alliant Techsystems and Orbital Sciences. Orbital ATK employs about 13,000 and is targeting sales this year of $4.6 billion.