HJ Bear: Your answer is misleading. You appear to be saying that the investor would receive approximately 1/2 a share of ATK for 100 shares of ORB. Do you mean that the investor would receive 100 X .449 shares of ATK after the merger???

Furthermore, this merger is quite complex and doesn't involve ORB & ATK per se or the ATK company as such. Before merging with ORB, ATK is going to spin-off the "sporting" sector of its company--a very valuable sector that generates considerable revenue. This spin-off should decrease the current value of ATK shares significantly. After the spin-off, THE NEW ATK (no more sporting sector) & ORB will merge, with ORB shareholders owning approximately 46% of the new company.

THIS IS NOT FINANCIAL ADVICE AND SHOULD NOT BE RELIED UPON!!!

your 100 shares of ORb will be extinguished and you will receive in exchange 449 shares of the new co. Back of the envelope the new co will be worth $3.8bn (which gives credit for some minor synergies) or $65 per share. the current orb price of $29 is consistent with that

this is not financial advice and should not be relied upon

ORB and ATK just merged this morning, I own ORB stock. Lets say I own 100 shares of ORB currently priced at $32. The merger says per share of ORB I own i get .449 shares of ATK currently priced at $150.

So will my 100 shares turn into ATK shares at .449 conversion ration or will that .449 be added on to my current ORB shares? How many shares at what price will this result in?