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NEW YORK – Northrop Grumman Corp. officials Wednesday said their proposed purchase of Newport News Shipbuilding Inc. is better than General Dynamics Corp.’s offer because the latter combination would create a nuclear shipbuilding monopoly. Not surprisingly, General Dynamics officials disagree, saying there has been no…
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NEW YORK – Northrop Grumman Corp. officials Wednesday said their proposed purchase of Newport News Shipbuilding Inc. is better than General Dynamics Corp.’s offer because the latter combination would create a nuclear shipbuilding monopoly.
Not surprisingly, General Dynamics officials disagree, saying there has been no competition in nuclear shipbuilding for years.
But the decision on who is correct rests with government officials, who won’t say yet which suitor they prefer.
Northrop Grumman’s surprise bid for Newport News came just two weeks after General Dynamics and Newport News revealed plans to merge in a deal valued at $2.1 billion.
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