Aerospace Merger: ATK Joins With Orbital Sciences Corp

FullBandwidth writes: "Two Virginia aerospace players, Arlington-based Alliant Techsystems (ATK) and Dulles-based Orbital Sciences, are merging to create a $5 billion venture. The companies announced the merger in a joint announcement Tuesday. ATK is also spinning off its lucrative hunting gear segment into a separate company. 'The move is mutually beneficial, company executives said, as ATK looks to bolster its aerospace business and Orbital Sciences hopes to boost the scale of its existing operations as well as gain a foothold in the defense sector. ... Another beneficiary of the merger is NASA, a client of both companies. Last year, Orbital successfully completed a supply run to the international space station using its Antares rocket and Cygnus spacecraft. Orbital’s expansion after the merger will make it a bigger player in the commercial space sector as it competes with the likes of SpaceX, billionaire entrepreneur Elon Musk’s company, said Howard Rubel, an equity research analyst at Jefferies.'"