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Litton Industries Ltd

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June 2, 1999 | From Times Wire Services
Avondale Industries Inc. said Tuesday that it is prepared to accept an increased cash takeover bid from Woodland Hills-based Litton Industries Inc., forgoing a previous all-stock merger agreement with Newport News Shipbuilding Inc. Avondale accepted Litton's latest offer of $39.50 a share, which Litton raised from the $38 it offered on May 6 as part of a dual $2.4-billion bid for both Avondale and Newport News.
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BUSINESS
June 2, 1999 | From Times Wire Services
Avondale Industries Inc. said Tuesday that it is prepared to accept an increased cash takeover bid from Woodland Hills-based Litton Industries Inc., forgoing a previous all-stock merger agreement with Newport News Shipbuilding Inc. Avondale accepted Litton's latest offer of $39.50 a share, which Litton raised from the $38 it offered on May 6 as part of a dual $2.4-billion bid for both Avondale and Newport News.
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