Alliant Techsystems Inc (ATK) announced its stockholders approved the issuance of ATK common stock to Orbital Sciences Corporation stockholders in connection with the previously announced merger between ATK’s Aerospace and Defense Groups and Orbital. As a result, the planned spinoff remains on track for 2/9.
On the closing date, ATK stockholders as of the close of business on February 2, 2015, 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. As a result, on the closing date, ATK stockholders will own 100 percent of Vista Outdoor. Beginning on February 10, 2015, shares of Vista Outdoor common stock will trade under the ticker symbol “VSTO” on the New York Stock Exchange (NYSE). The spin-off will be immediately followed by the merger. In connection with the merger, Orbital shareholders will receive 0.449 shares of ATK common stock for each share of Orbital common stock that they hold. As a result, on the closing date, ATK shareholders will own approximately 53.8 percent of the combined company on a fully diluted basis and Orbital shareholders will own the remaining approximately 46.2 percent of the combined company on a fully diluted basis. Following closing, ATK will be renamed Orbital ATK, Inc. and, beginning on February 10, shares of Orbital ATK common stock will trade under the new ticker symbol “OA” on the NYSE.
