An investigation on behalf of investors of Orbital Sciences Corp (NYSE:ORB) in connection with the proposed takeover was announced and NYSE:ORB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/14/2014 -- An investigation on behalf of investors, who currently hold shares of Orbital Sciences Corp (NYSE:ORB) shares, was announced concerning whether the takeover of Orbital Sciences Corp by Alliant Techsystems Inc is unfair to NYSE:ORB stockholders.
Investors who purchased shares of Orbital Sciences Corp (NYSE:ORB) and currently hold any of those NYSE:ORB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Orbital Sciences Corp breached their fiduciary duties owed to NYSE:ORB investors in connection with the proposed acquisition.
On 29 April 2014, Orbital Sciences Corp (NYSE:ORB) announced that it has entered into an agreement with Alliant Techsystems Inc. (NYSE: ATK), which will combine Orbital Sciences Corp and Alliant Techsystems Inc’s Aerospace and Defense (A&D) Groups.
However, the investigation concerns whether the offer is unfair to NYSE:ORB stockholders. More specifically, the investigation concerns whether the Orbital Sciences Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
At least one analyst has set the high target price for NYSE:ORB shares at $42.00 per share. While Orbital Sciences Corp reported that its annual Total Revenue declined from over $1.43 billion in 2012 to over $1.36 billion in 2013, its respective Net Income increased from $61.01 million to $68.37 million.
Shares of Orbital Sciences Corp (NYSE:ORB) grew from $10.72 per share in June 2012 to as high as $28.69 per share in April 2014.
On May 12, 2104, NYSE:ORB shares closed at $28.47 per share.
Those who are current investors in Orbital Sciences Corp (NYSE:ORB) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com