Northrop Grumman Extends Again NNS Tender Offer

Friday, July 06, 2001
U.S. defense contractor Northrop Grumman Corp. on Thursday said it extended again its tender offer for the shares of Newport News Shipbuilding, as the antitrust enforcers weighed the proposed $2.1 billion takeover.

Los Angeles-based Northrop, which is competing with rival General Dynamics Corp. for control of Newport News, said it extended its tender offer for shares of the warship builder to July 19 at midnight EDT from the prior deadline of July 5. About 2.84 million shares, or nine percent, of Newport News' common stock had been tendered as of 5:00 p.m. EDT on July 5, Northrop said.

Falls Church, Va.-based General Dynamics recently said about 20.3 million Newport shares, more than the majority of those outstanding, had been tendered in connection with its bid.


Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair 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: 0.0776 sec (13 req/sec)