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October 9, 1998 | From Bloomberg News
General Dynamics Corp., the fourth-largest U.S. defense contractor, said Thursday that it would buy Nassco Holdings Inc. for $415 million in cash and assumed debt to beef up its ship-repair business and better compete for future commercial and Navy contracts. General Dynamics, based in Falls Church, Va., would pay $370 million in cash and assume $45 million in debt for employee-owned Nassco, the parent of National Steel & Shipbuilding Co.
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BUSINESS
October 9, 1998 | From Bloomberg News
General Dynamics Corp., the fourth-largest U.S. defense contractor, said Thursday that it would buy Nassco Holdings Inc. for $415 million in cash and assumed debt to beef up its ship-repair business and better compete for future commercial and Navy contracts. General Dynamics, based in Falls Church, Va., would pay $370 million in cash and assume $45 million in debt for employee-owned Nassco, the parent of National Steel & Shipbuilding Co.
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BUSINESS
October 9, 1998 | Reuters
Defense contractor General Dynamics Corp. said it will buy a shipyard in San Diego, its first on the West Coast, for $370 million in cash plus the obligation to pay off about $45 million of the seller's debt. It said the purchase of San Diego-based Nassco Holdings Inc., the parent company of National Steel & Shipbuilding Co., an employee-owned shipbuilding and repair business, is expected to close Nov. 30. General Dynamics noted the deal will add immediately to its earnings.
BUSINESS
January 20, 1999 | Times Wire Services
Newport News Shipbuilding Inc., the largest maker of nuclear aircraft carriers, agreed to buy Avondale Industries Inc. for about $470 million in stock, a deal that would create a company capable of designing, building and maintaining the entire Navy fleet. The new company would have annual revenue of about $2.6 billion and nearly 24,000 employees. The proposed acquisition would cut the number of U.S.
BUSINESS
April 22, 1999 | From Times Wire Services
Northrop Grumman Corp. said Wednesday that its first-quarter profit fell slightly on slumping sales of B-2 bombers and other weapons, but still exceeded Wall Street forecasts. Profit from operations fell to $104 million, or $1.50 a share, from $105 million, or $1.52, a year earlier. The results beat the $1.33 average estimate of analysts polled by First Call Corp. Sales rose 4.2% to $2.1 billion.
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