In a deal that would merge two major U.S. defense contractors, Northrop Grumman Corp. is said to be near a deal to buy Orbital ATK Inc. , according to a Wall Street Journal report Sunday. The deal would reportedly be valued at about $7.5 billion. Virginia-based Orbital ATK is an aerospace and defense company that manufactures everything from ammunition to rockets to satellites. Northrop Grumman, also based in Virginia, is the fifth-largest defense contractor in the world, and makes the B-2 Spirit bomber, F/A-18 Hornet and military drones, among other products. Orbital ATK shares jumped 1.5% immediately after the report Sunday, while Northrop Grumman rose about 0.5%.
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