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 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


Euroseas Sells C/V Marinos

Euroseas Ltd.  an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes,

Bill on Danish Maritime Planning Submitted

The bill is to form the basis of a maritime planning act intended to promote economic growth and development of sea areas. The Danish Maritime Authority is to head the work.

Plans to Create Rio Doce Fund

Vale and BHP Billiton announced today plans to work together, with Samarco, to establish a voluntary, non-profit fund to support the rescue and recuperation of the Rio Doce river system,


SSI to Unveil ShipConstructor 2016 R2 at WorkBoat

SSI's latest release, ShipConstructor 2016 R2 will be unveiled for the first time in public at the International WorkBoat Show, December 1-3, in New Orleans.   According to SSI,

Cadmatic Used for Alaska Ferry Design

The Alaska Marine Highway System (AMHS) has awarded the Alaska Class Ferry project to Vigor Alaska shipyard in Ketchikan, Alaska, where construction is currently underway.

Hard Problems Demand Soft(ware) Solutions

Make no mistake, the commercial maritime industry will always revolve around heavy duty machinery and mega-machines designed to weather some of the toughest operating conditions on earth.

Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair 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: 0.0718 sec (14 req/sec)