ATK-Orbital Deal To Continue

Alliant Techsystems and Orbital Sciences said Monday that despite the Antares launch failure that occurred last month the two companies still plan to continue their merger.

But the deal, which would combine ATK's aerospace and defense groups with Orbital, has been delayed. The special stockholder meetings slated for Dec. 9 have been rescheduled for Jan. 27.

"Since the [Antares] incident, the companies have conducted a thorough review and analysis of the launch failure and Orbital's proposed recovery plan and long-term competitive position," the two companies said in a press release. "Following this review, ATK's board of directors continues to support the strategic merits of the transaction and recommends that ATK stockholders vote to approve the issuance of shares to Orbital stockholders."

The deal is expected to close in February.