Northrop Grumman Complies With Antitrust Regarding NNS Purchase

Monday, May 21, 2001
Defense contractor Northrop Grumman Corp. on Monday said it notified the U.S. Department of Justice and the Federal Trade Commission of its intent to acquire Newport News Shipbuilding Inc. in compliance with antitrust regulations.

Northrop placed an unsolicited bid for Newport News, maker of the U.S. Navy's nuclear-powered aircraft carriers, earlier this month, challenging a planned $2.1 billion merger of Newport and General Dynamics Corp.

Both Northrop and General Dynamics have said they filed pre-merger notifications in compliance with the Hart-Scott-Rodino antitrust improvements act.

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