General Dynamics Continues Pursuit of Newport News Shipbuilding

Friday, May 11, 2001
Defense contractor General Dynamics said on Thursday that it had notified the U.S. Department of Justice and the Federal Trade Commission of its intent to acquire Newport News Shipbuilding in compliance with antitrust regulations.

General Dynamics announced on April 25 that it had signed an agreement to acquire the Virginia-based military ship and submarine builder. The company said it had filed a pre-merger notification in compliance with the Hart-Scott-Rodino antitrust improvements act.

Rival defense contractor Northrop Grumman Corp. this week made a counter offer for Newport News, challenging General Dynamics planned $2.1 billion merger.

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