The acquisition of Orbital would strengthen Northrop Grumman's capabilities in military aircraft technology
In this Thursday, December 15, 2016, file photo, the Orbital ATK L-1011 aircraft lifts off from Cape Canaveral Air Force Station, Florida. photo: Florida Today via AP/Craig Bailey, photo: Florida Today via AP/Craig Bailey
18 of September 2017 14:13:58
FALLS CHURCH – Northrop Grumman is buying Orbital ATK for about $7.8 billion, with a backdrop of rising global tensions accelerating big deals in the defense sector.Earlier this month, United Technologies said it would pay $22.75 billion for defense contractor Rockwell Collins.Legislation is expected to pass easily Monday pumping $700 billion into the Pentagon budget as the U.S. responds to growing hostility from North Korea.The U.S. military on Monday flew advanced bombers and stealth jets over the Korean Peninsula and near Japan, three days after North Korea fired a missile over Japan.Saudi Arabia has a pending deal to acquire $500 million in precision-guided munitions from the U.S., part of a proposed $110 billion arms package to Riyadh, which is enmeshed in a civil war in Yemen. A Saudi-led coalition, which is supported by the United States, has been carrying out airstrikes in Yemen since March 2015.