Orbital Sciences Corp. (ORB: Quote) announced Tuesday morning that it agreed to merge with Alliant Techsystems Inc.'s (ATK: Quote) Aerospace and Defense Groups in a transaction valued at approximately $5.0 billion. The new company will be known as Orbital ATK.
Orbital Sciences gapped open sharply higher Tuesday morning and is now up 6.68 at $33.25 on above average volume. The stock has leaped to a new high for the year.
by RTT Staff Writer
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