Sept 18 (Reuters) - U.S. defense contractor Northrop Grumman Corp said on Monday it would buy missile and rocket maker Orbital ATK Inc for about $7.8 billion in cash.
The offer of $134.50 per Orbital share represents a premium of 22 percent over the stock’s Friday close.
Northrop will also assume $1.4 billion in Orbital’s net debt, the companies said.
Reuters on Sunday reported about the potential deal, citing a person familiar with the transaction. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila)