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 Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


AMC’s Tempest in the Water

Aluminium Marine Consultants (AMC) lowered the new Crew Transfer Vessel Tempest into the water for the first time on November 16, 2015, on time and on schedule for handover mid December.

Damen’s Norway Foray

The Damen Shipyard Group’s man in Norway likes picking up the phone these days. With offshore markets in the doldrums, a unique phenomenon is occurring: “Norwegians are talking to me,

VT Halter Launches Barge for Bouchard

VT Halter Marine, Inc. (VT Halter Marine), a company of Vision Technologies Systems, Inc. (VT Systems) and Bouchard Transportation Co. announced that Barge B. No.

Tanker Trends

EuronavSells Suexmax Cap Laurent

Euronav NV announced the sale of its Suezmax Cap Laurent for $22.25 million. The 1998-built 146,145-dwt vessel was wholly owned by Euronav.    The vessel was

Hoegh LNG Q3 Profits Disappoints

Oslo-listed Hoegh LNG, whose floating plants turn liquefied natural gas (LNG) into gas, reported on Monday third-quarter earnings below forecasts and offered a dividend of $0.

Torm Orders Four Tankers in $200 mln Deal

Danish shipping company Torm has signed an order for four fuel-efficient LR2 (long-range) product tanker vessels from Guangzhou Shipyard International in China for $200 million.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair 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: 0.0667 sec (15 req/sec)