Northrop Grumman announced a $9 billion deal to buy Orbital ATK. early Monday.
Orbital is a rocket and defense contractor. It competes with SpaceX and the joint venture between Boeing and Lockheed Martin for the growing commercial satellite launch business.
The price Northrop agreed to pay for Orbital represents a 22% premium over Friday’s closing price.
Earlier this month, United Technologies bought Rockwell Collins for $23 billion. They’re two of the biggest suppliers to Boeing and Airbus.