Newport News Shipbuilding Receives Revised Proposal From Northrop Grumman

Tuesday, November 06, 2001
Newport News Shipbuilding said that it has received a revised proposal from Northrop Grumman Corporation in which the "collar" used in determining the amount of Northrop Grumman Common Stock and cash to be received by Newport News stockholders would be adjusted so that Newport News stockholders would receive a value of $67.50 per share if the market value of Northrop Grumman Common Stock does not exceed $100 per share and is not less than $80 per share.

Newport News said that it has been advised by Northrop Grumman that the Northrop Grumman Board of Directors has approved this proposal. Newport News said that it expects that its Board of Directors will meet on Wednesday, November 7, to consider the new Northrop Grumman proposal. The proposal is subject to the negotiation of a mutually satisfactory merger agreement. There can be no assurance that such an agreement will be reached.

Maritime Today


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

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

Finance

Moody's Dings Hurtigruten's Outlook Due to Newbuilds

Moody's Investors Service, (Moody's) issued a press release affirming the B2 corporate family rating (CFR), B2-PD probability of default rating, and the B2 senior

NOL Posts Q1 Net Loss of $105 Mln

NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million,

US Aims to Recover El Faro VDR in Next Few Months

The U.S. National Transportation Safety Board hopes to recover the voyage data recorder from the cargo ship El Faro, which sank during a hurricane killing all 33 crew on board,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.0741 sec (14 req/sec)