NNS Board Approves General Dynamics Plan

Wednesday, June 06, 2001
Newport News Shipbuilding Inc.'s board voted to back the $2.1 billion takeover offer from fellow defense contractor General Dynamics Corp. over a rival offer from Northrop Grumman Corp. Newport News, a warship builder, said in a statement its board voted unanimously to recommend the company go with General Dynamics' offer after determining it did not have enough information regarding the positions of federal antitrust regulators and defense officials to take a position on the Northrop bid. Newport News and General Dynamics announced plans to combine in April. Northrop countered with its own offer for Newport News in May. Though structured differently, Northrop's offer is about equal to that of General Dynamics. - (Reuters)
Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Keel Laid for Holland America Line’s New Ship

Holland America Line celebrated the keel laying of its new 2,650-guest Pinnacle Class ship on August 22 at Fincantieri’s Marghera shipyard in Italy. A 680-ton block

Jones Act is Critical to Conn. Economy

Study shows Connecticut shipbuilding industry worth $2.5 billion to state’s economy, supports nearly 23,000 jobs The American Maritime Partnership (AMP) joined

CWind Launches New Vessel

CWind, a provider of integrated services to the offshore wind industry, has launched its new vessel CWind Fulmar in a naming ceremony in Brightlingsea. The CWind Fulmar, built by CTruk Ltd.

Tanker Trends

Iraq to Appeal US Court Decision on Kurdish Oil

The Iraqi oil ministry said on Thursday it would challenge a U.S. court decision that stopped U.S. Marshals from seizing some one million barrels of disputed Kurdish oil docked near Texas.

UK's Hound Point VLCC Jetty Down Until Sept. 15

The supertanker jetty at the North Sea's Hound Point crude oil terminal is shut for maintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday,

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1102 sec (9 req/sec)