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Alliant Techsystems Inc.

Orbital Sciences, ATK to merge in $5B stock deal

Orbital Sciences, ATK to merge in $5B stock deal

Orbital Sciences Corp. and Alliant Techsystems Inc. said Tuesday that they plan to merge in a $5 billion deal, creating a new aerospace and defense company called Orbital ATK Inc. that will employ 4,000 people in Maryland and Northern Virginia.

The top executives of both companies said they spent six months discussing the all-stock deal, calling it a "merger of equals" that complement each other's business. The new company will be based at Orbital's campus in Dulles, Va., and Orbital CEO David Thompson will lead it.

Thompson and Mark DeYoung, CEO of ATK, said they don't foresee changes at major ATK operations in Maryland, including the company's defense group based...