Alliant Techsystems (ATK) announced that it has established 2/2 as the record date for the previously announced spin-off of its Sporting Group business, Vista Outdoor (VSTO) to ATK stockholders as a newly formed company named Vista Outdoor Inc. As previously announced, ATK and Orbital Sciences Corporation (ORB) have entered into a transaction agreement, whereby ATK’s Aerospace and Defense Groups will merge with Orbital immediately following the spin-off of ATK’s Sporting Group business. On the closing date, which is expected to be 2/9, ATK stockholders as of the close of business on 2/2, the record date for the distribution, will receive two shares of Vista Outdoor common stock for every one share of ATK common stock they hold on the record date.
Vista Outdoor common stock is expected to trade on a “when-issued” basis on the NYSE from January 29, 2015 through February 9, 2015. On the first trading day following the closing, which is expected to be February 10, 2015, “regular way” trading of Vista Outdoor common stock under the symbol “VSTO” will begin.
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