ATK stockholders OK stock deal for Orbital merger
ARLINGTON, Va. – Alliant Techsystems Inc. said Tuesday its stockholders approved the issuance of ATK common stock to Orbital Sciences Corp. stockholders in connection with the previously announced merger between ATK’s Aerospace and Defense groups and Orbital.
ATK and Orbital held separate, special stockholder meetings in conjunction with the proposed transaction. As previously announced, ATK intends to spin off its Sporting Group into Vista Outdoor Inc. and immediately thereafter complete the merger. During Orbital’s special stockholder meeting, Orbital stockholders voted to approve the merger.
Approximately 97 percent of the votes cast at ATK’s special meeting of stockholders voted in favor of the issuance of shares, which represented approximately 77 percent of the total number of outstanding shares of ATK common stock as of Dec. 16, 2014, the record date for the special meeting.