NORTHROP GRUMMAN CORP., Boca Raton, Fla., the fifth-largest military contractor in the United States, said it had started a tender offer to buy all of the outstanding shares of Litton Industries, Woodland Hills, Calif., a shipbuilder, for $80 a common share and $35 a preferred share, series B.
Bring the old shipbuilders down for a cup of tea.
Proposals from shipbuilders for two dreadnoughts (along with a possible third, to match Brazil should a third ship be ordered) and twelve destroyers were solicited in 1908 by open tender.
"After researching possible shipbuilders for the last two years, negotiations with Dutch shipbuilder Damen has resulted in a blueprint of our ideal ship.
BAE has also tried to avoid competing with Thales, a French company, to supply aircraft carriers, and Vosper Thornycroft, a British shipbuilder, for destroyers.EM.TV, a debt-ridden German TV company, admitted that it was thinking about selling the Jim Henson Company, creator of the Muppet Show.
In a statement, Northrop Grumman said of the merger: "We were surprised by the announcement because on two separate occasions the government has objected to the combining of shipbuilders for competitive reasons.
But South Korean shipbuilders, for example, who had been exploring setting up shipyards in the North, have shelved such plans.In the meantime many in South Korea expect mounting tension on the border.
Once home to toiling shipbuilders, for the next few days it is playing host to thousands of Eurovision fans from around the world, not to mention the press who will be keenly dissecting every fabulous (or not-so-fabulous) move this year's contestants make.
It was a hard-fought, if small, victory for the shipbuilders in a trying year for the $30 billion DD-21 program.
She has not seen her father, a retired shipbuilder, for decades.
