Newport News Shipbuilding was notified by the Department of Defense (DOD) of its
decision to recommend to the Department of Justice (DOJ) approval of the
Northrop Grumman offer to acquire Newport News Shipbuilding and its decision to recommend not approving the merger agreement between Newport
News Shipbuilding and General Dynamics. Newport News Shipbuilding was also notified that the DOJ has commenced legal proceedings to prevent the
proposed merger between NNS and GD.
Newport News Shipbuilding began discussions with Northrop Grumman three
weeks ago to determine whether a mutually acceptable transaction between the
two companies can be negotiated. Any agreement reached between Newport News Shipbuilding and Northrop Grumman would require the approval of the Newport News Shipbuilding Board of Directors.