Defense giant Northrop Grumman’s $9.2 billion merger with Orbital ATK has been approved by the European Commission. (File Photo)
The European Commission has approved Northrop Grumman’s acquisition of aerospace and defense manufacturer Orbital ATK.
Virginia-based Northrop Grumman first proposed the $9.2 billion transaction last September. U.S. Federal Trade Commission approval, which is expected in the first half of 2018, is the deal’s last major hurdle.
Orbital ATK would be added to Northrop Grumman as a new, fourth business sector.
Northrop Grumman’s CEO said the company and Orbital ATK have “complementary portfolios and technology-focused cultures” that would align and enable growth.