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Newport News, Va., Shipyard Directors to Vote on Revised Northrop Deal.

Daily Press (Newport News, VA)

| November 07, 2001 | COPYRIGHT 2007 Daily Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Michael Fabey

Nov. 7--NEWPORT NEWS, Va--Today is another voting day when the Newport News Shipbuilding board of directors could determine the future owner of the local shipyard.

The Newport News Shipbuilding directors are to vote today on a revised buyout offer from Northrop Grumman. Wall Street fund managers who control blocks of Newport News stock were uncertain whether the board would recommend the buyout offer to shipyard shareholders. Shareholders can disregard any board recommendation and keep or sell shares as they see fit.

The local shipyard's policy is to not discuss any actions the board may or may not take. In its Tuesday announcement, the …

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