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Orbital ATK shareholders approve acquisition by Northrop Grumman

Northrop Grumman Corp. said its proposed acquisition of Orbital ATK Inc. has been approved by the target's shareholders.

The defense and global security contractor agreed in September to acquire Orbital ATK for about $7.8 billion in cash, with the assumption of $1.4 billion in net debt.

Northrop Grumman still expects the acquisition to close in the first half of 2018, following regulatory approvals.

Orbital ATK is an aerospace and defense technologies specialist firm.