In April 2001, General Dynamics (GD) and Newport News Shipbuilding (NNS) announced anagreement under which GD would purchase NNS. The following month, Northrop Grumman(NOC) announced an unsolicited counteroffer to purchase NNS. The Department of Justice (DoJ)and the Department of Defense (DoD) reviewed the two merger proposals and in October 2001announced that they would oppose the GD merger proposal on the grounds that it wouldeliminate competition in nuclear submarines and harm competition for emerging technologies forboth nuclear submarines and surface ships. DoJ and DoD did not oppose the NOC mergerproposal, and in November 2001, NOC assumed control of NNS.


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    Title :

    Navy Shipbuilding: Recent Shipyard Mergers-Background and Issues for Congress


    Contributors:
    R. ORourke (author)

    Publication date :

    2002


    Size :

    63 pages


    Type of media :

    Report


    Type of material :

    No indication


    Language :

    English