Marine Link
Friday, October 21, 2016

Northrop Grumman To Comply With DOJ's Information Request

June 19, 2001

Defense contractor Northrop Grumman Corp. said on Tuesday that it will comply with a request from the Department of Justice for additional information on its proposed takeover of warship-builder Newport (NEWP) News.

The company said the Department of Justice made the request on Monday under antitrust regulations. Northrop Grumman last month commenced an exchange offer for each of Newport's outstanding common shares for $67.50 in cash or stock. Earlier this month, Newport News board had voted in favor of a $2.1 billion takeover bid from rival General Dynamics (GD).

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