GD Extends Offer For NNS

Monday, August 06, 2001
General Dynamics extended its pending tender offer for Newport News Shipbuilding Inc. as it waits for the U.S. government's decision on the proposed merger. General Dynamics, which is competing with Northrop Grumman Corp. to buy Newport News, has extended its offer to Aug. 17. It had previously scheduled to expire at midnight on Aug. 3, the company said. As of Aug. 3, about 221.6 million shares of Newport News had been tendered, General Dynamics said. That exceeds the majority of shares outstanding, it said. Shares of General Dynamics closed Friday at $82.67 on the New York Stock Exchange, just off its 52-week high of $85.20. Shares of Newport News closed $63.60 on NYSE Friday, just off its 52-week high of $65.68.
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Ship Launch Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

Asia-N.Europe Box Rates Hit 6-Year Low

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday,

 
 
Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.2022 sec (5 req/sec)