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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Funding Approved for Georgia’s New Inland Terminal

At its July board meeting, the Georgia Ports Authority (GPA) approved a spending package of $19.7 million to construct the Appalachian Regional Port in Chatsworth, Murray County, Ga.

Baltic Index Falls on Weak Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday due to weaker rates across all segments, except handysizes.

As Market Sours, LPG Tankers Anchor off Singapore

Record U.S. LPG exports to Asia flip market into a glut. Last year, liquefied petroleum gas (LPG) supplied to Asia was being snapped up by petrochemical makers.

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.0739 sec (14 req/sec)