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Alliant Techsystems to merge aerospace & defence business with Orbital

April 29 (Reuters) - Alliant Techsystems Inc said it would merge its aerospace and defense business with Orbital Sciences Corp in stock.

Alliant Techsystems said its shareholders will own about 53.8 percent of the combined company, with Orbital shareholders holding the rest.

Alliant also said it would spin off its outdoor sports business.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)