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/

View original content:http://www.prnewswire.com/news-releases/weisslaw-llp-orbital-atk-inc-acquisition-may-not-be-in-the-best-interests-of-oa-shareholders-300522458.html

SOURCE WeissLaw LLP

Copyright 2017 PR Newswire

Northrop Grumman (NYSE:NOC)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Northrop Grumman Charts.
Northrop Grumman (NYSE:NOC)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Northrop Grumman Charts.