AFTER HOURS: Northrop Grumman, Orbital ATK, Scorpio Tankers and Neos Therapeutics

AFTER HOURS: Northrop Grumman, Orbital ATK, Scorpio Tankers and Neos Therapeutics”

There's yet another aviation mega-deal: Northrop Grumman announced a $7.8 billion deal to buy Orbital ATK. early Monday.

In 2015, Northrop won an $80 billion mega-contract from the US military for the Long Range Strike Bomber planned for the mid-2020s.

Dulles, Virginia-based Orbital is both a government contractor and supplier of various aerospace and defense technologies, such as missile systems and products, launch vehicles, and weaponry.

Orbital shares were up almost 20% premarket.

Northrop is valued at $46.5 billion, while Orbital is valued at $6.3 billion.

The deal, expected to close in the first half of 2018, comes as the firing of missiles by North Korea in recent months has focused attention on missile defense systems.

Orbital shareholders will receive an all-cash consideration of $134.50 per share.

Rockwell Collins Inc., Boeing Co., Northrop Grumman, Raytheon Co., Lockheed Martin Corp. and Honeywell International Inc., are all hitting new highs. Northrop will also assume $1.4 billion of Orbital's debt, which it said brings the total value of the deal to more than $9 billion.

Northrop expects the deal to be accretive to earnings per share in the first year, realize approximately $150 million in annual pre-tax cost savings by 2020 and generate about $30 billion in 2017 pro-forma sales.

Like this


18 September 2017
Quick-witted Russian soldier who averted Cold War nuclear conflict dies
Despite receiving praise for his decision, he was also officially reprimanded for failing to describe the incident in the logbook. Lt Col Petrov, for his part, said he was neither rewarded nor punished by his country for his actions in any meaningful way.

18 September 2017
Evaluate Stock's Volatility before Making Any Investment Decision: Intel Corporation
Nomura reissued a buy rating and issued a $40.00 price target on shares of Intel Corporation in a report on Tuesday, November 1st. Credit Suisse Group restated an "outperform" rating on shares of Intel Corporation in a research report on Thursday, August 31st.

18 September 2017
MGM Resorts International Sees Unusually High Options Volume (NYSE:MGM)
The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Robert Baldwin, CHIEF CUSTOMER DEV OFFICER sold $1,629,300 worth of shares at an average price of $33.13 on Monday the 11th.

18 September 2017
Marvel vs. Capcom: Infinite DLC '2017 Character Pass' characters announced
Still, reviews of the game have been fairly positive thus far, with the game now holding a 78 on Metacritic . We'll have to wait to see what they actually look like, so I'll use my imagination in the meantime.

18 September 2017
Lewis Hamilton wins Singapore Grand Prix as title rival Sebastian Vettel crashes
Verstappen, who had started from second on the grid ahead of Ricciardo, blamed Vettel. "Just ridiculous", the Finnish driver said. The treacherous conditions might have made Vettel a bit nervous, even on a track where he holds the record with four wins.

18 September 2017
Watch Live As Hurricane Irma Strikes Florida
National Hurricane Center in Miami reported that the center of core of Irma is about 25 miles (40 km) northeast of Key West. Reports of tornado-like damage began to emerge at the Keys, where the total water level was three feet above normal.

18 September 2017
Driver charged over Edinburgh hospital bus crash
The road was reopened around 8.45pm while investigations were conducted at the scene and the vehicle was recovered. Emergency services were called to the scene at the Western General Hospital at around 3.30pm on Sunday.

18 September 2017
Singapore Grand Prix strategy guide
Carlos Sainz and Sergio Perez were the other big gainers in the Toro Rosso and Force India respectively. It was just enough, his lap being three tenths of a second quicker than Max Verstappen's best effort.

18 September 2017
Reinsurance Group of America, Incorporated (RGA) Shares Sold by Nationwide Fund Advisors
The stock of Reinsurance Group of America Inc (NYSE:RGA) has "Neutral" rating given on Wednesday, February 24 by Goldman Sachs. Equities analysts forecast that Reinsurance Group of America, Incorporated will post $10.21 EPS for the current fiscal year.

18 September 2017
'Good Omens': David Tennant, Michael Sheen Suit Up For Amazon
Beryl, Ned Dennehy ( Peaky Blinders ) as Duke of Hell Hastur, and Ariyon Bakare ( New Blood ) as fellow Duke of Hell Ligur. What a sweet way to respect the memory of Pratchett, who sadly passed away in 2015.