Alliant Techsystems Inc, the world's largest ammunition maker, said it would merge with Orbital Sciences Corp, after spinning off its sporting gun business.Orbital shares were up nearly 19 percent in premarket trading. Shares of Alliant Techsystems, better known as ATK, were up 5 percent.As well as ammunition and guns, Orbital makes small- and medium-class rockets and space systems for commercial, military and civil government customers.Orbital stockholders will get 0.449 ATK shares per Orbital share, ATK said on Tuesday. The combined company, to be called Orbital ATK Inc, will own about $1.7 billion of ATK's debt.
Alliant Techsystems Inc. (ATK) is an aerospace, defense, and commercial products company that operates in 22 states, Puerto Rico, and internationally. Shares of ATK fell by 0.04% or $-0.05/share to $138.82. In the past year, the shares have traded as low as $72.65 and as high as $147.84. On average, 405985 shares of ATK exchange hands on a given day and today's volume is recorded at 175132.
Orbital Sciences Corporation develops and manufactures small- and medium-class rockets and space systems for commercial, military and civil government customers, including the United States Department of Defense (DoD), the National Aeronautics and Space Administration (NASA) and other United States Government agencies. Shares of ORB fell by 1.96% or $-0.53/share to $26.57. In the past year, the shares have traded as low as $17.03 and as high as $29.41. On average, 365335 shares of ORB exchange hands on a given day and today's volume is recorded at 275280.
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