Northrop Grumman Extends $2.1 Billion Tender For Newport News

Friday, August 17, 2001
U.S. Defense contractor Northrop Grumman Corp. said on Thursday that it had extended again its $2.1 billion tender offer for the outstanding shares of warship builder Newport News Shipbuilding Inc. to Aug. 30.

About 1,620,832 shares of Newport News Shipbuilding common stock had been tendered to Northrop Grumman as of 5:00 p.m. on Aug. 16, including about 181,611 shares tendered pursuant to notices of guaranteed delivery, Northrop said. On Aug. 2, the company extended the deadline for its offer for Newport News to Aug. 16.

In May, Northrop launched a hostile takeover bid for Newport, offering to pay $67.50 in cash and stock for each of Newport's outstanding shares. That offer came after rival General Dynamics Corp.'s planned merger with Newport in which it offered $67.50 in cash for each of the shipbuilder's share.

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

Finance

Work Begins on $1.6 bln Container Terminal at Jebel Ali Port

DP World Chairman Sultan Ahmed Bin Sulayem announced the start of construction work on a brand new container terminal at Jebel Ali Port, Dubai.   Phase 1 of the

Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to

China's Navy Drills in South China Sea

China said it conducted air and sea drills in the South China Sea on Tuesday as it stakes an increasingly assertive claim to virtually the whole sea despite rival claims by neighbours.

CAD/CAM

SENER Presents on History of Ship Design

The COMPIT annual edition took part this year from May 11-13 in Ulrichshusen, Germany, with the participation of SENER. This event is an International Conference

New FORAN Update from SENER

SENER Ingeniería y Sistemas SA informs it has launched a new version of its marine CAD/CAM system, the FORAN V80, which incorporates new capabilities to cope with demands from the marine shipbuilding,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Shipbuilding / Vessel Construction Sonar
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: 0.1110 sec (9 req/sec)