NEW YORK, Sept. 19, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Orbital ATK Inc
("OA" or the "Company") (NYSE: OA) in connection with the proposed
acquisition of the Company by Northrop Grumman Corporation ("NOC")
(NYSE: NOC). Under the terms of the acquisition agreement,
the Company's shareholders will receive $134.50 in cash for each OA share they own.
WeissLaw is investigating whether OA's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial results
for the second quarter of 2017. It reported revenue of
$1.115 million, representing an
increase of approximately 3% year-over-year when compared to the
$1.081 million reported in the same
period of the prior year. Additionally, according to OA's
President and CEO, the Company saw "strong top line growth in two
of [OA's] three business segments," with a robust overall adjusted
operating margin of 12.5%.
Finally, according to NOC's CEO, the acquisition is "an exciting
strategic step," which will yield "significant value creation
through synergies associated with new opportunities, cost savings,
operational synergies, and enhanced growth." The deal is
expected to be immediately accretive to earnings per-share and free
cash flow per-share, and will generate an estimated $150 million in annual pre-tax cost savings by
2020.
Given these facts, WeissLaw is investigating whether OA's Board
acted in the best interests of OA's public shareholders to maximize
shareholder value prior to entering into the agreement. If
you own OA shares and would like more information about your rights
or our investigation, or if you have information to share with us,
please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/orbital-atk-inc/
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SOURCE WeissLaw LLP