GD Extends NNS Offer

Monday, June 25, 2001
General Dynamics extended its pending tender offer for all outstanding shares of common stock (including associated rights) of Newport News Shipbuilding Inc. to midnight, EDT, on July 6, 2001. The offer was previously scheduled to expire at midnight, EDT, on June 22, 2001. As of midnight, EDT, on June 22, 2001, approximately 20,248,926 shares (including guaranteed delivery) of Newport News had been tendered. While the number of shares tendered exceeds the majority of shares outstanding, on a fully diluted basis, of Newport News Shipbuilding, General Dynamics is awaiting the requisite governmental approval in order to complete the transaction. Newport News Shipbuilding designs and constructs nuclear-powered aircraft carriers and submarines for the U.S. Navy and provides life-cycle services for ships in the Navy fleet. The company employs nearly 17,000 people and has annual revenues of approximately $2 billion. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 47,000 people worldwide and anticipates 2001 sales of approximately $11.5 billion. The company has leading market positions in business aviation, information systems, shipbuilding and marine systems, and land and amphibious combat systems.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

UK Navy Chooses Effer Crane Again

Cranes manufacturer Effer informs its marine crane has recently been installed aboard the U.K. Royal Navy’s patrol vessel HMS Mersey.   The new 5s 275M crane,

Fire-stricken Icebreaker Overhauled

SENER concludes the Almirante Irizar icebreaker engineering works for re-outfit and overhaul   SENER reports it has completed the engineering works relating to

Engine Refit for Mersey Pilot Boat

James Troop supplies two new Volvo Penta engines to upgrade Mersey pilot boat   Merseyside-based engine specialist James Troop & Co has secured a deal to supply

Navy

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

Fond Farewell to HMAS Tobruk

The Governor-General, His Excellency General the Honourable Sir Peter Cosgrove, AK, MC (Retd), together with the Assistant Minister for Defence Stuart Robert, MP,

Thai Navy Lobbies for More Submarines

The Royal Thai Navy claims it urgently needs more submarines to compete with other Asian countries.   The assistant commander made the claim aimed at persuading

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1928 sec (5 req/sec)