Filed by Northrop Grumman Corporation
Pursuant to Rule 425 under the Securities Act of
1933 and deemed filed pursuant to Rule 14d-2 of the
Securities Exchange Act of 1934
Subject Company: Newport News Shipbuilding Inc.
Commission File No.: 1-12385
NORTHROP GRUMMAN CORPORATION
Public Information
1840 Century Park East
Los Angeles, California 90067-2199
Telephone: 310-553-6262
Fax: 310-556-4561
Contact: Randy Belote (Media) (443) 994-1489
Gaston Kent (Investors) (310) 201-3423
FOR IMMEDIATE RELEASE
NORTHROP GRUMMAN AMENDS AND EXTENDS OFFER
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FOR NEWPORT NEWS SHIPBUILDING
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Los Angeles - Nov. 6, 2001 - Northrop Grumman Corporation (NYSE: NOC)
today amended its offer for all outstanding shares of common stock,
including associated rights, of Newport News Shipbuilding Inc. (NYSE: NNS)
pursuant to an amended Registration Statement on Form S-4 filed with the
Securities and Exchange Commission. Northrop Grumman also announced that it
has extended its amended offer from Nov. 8, 2001, to Nov. 19, 2001 at
midnight E.S.T.
Approximately 2,584,631 shares of Newport News Shipbuilding common
stock had been tendered to Northrop Grumman as of 5:00 p.m. E.S.T. on Nov.
6, 2001.
Northrop Grumman Corporation is a $15 billion, global aerospace and
defense company with its worldwide headquarters in Los Angeles. Northrop
Grumman provides technologically advanced, innovative products, services
and solutions in defense and commercial electronics, systems integration,
information technology and non-nuclear shipbuilding and systems. With
80,000 employees and operations in 44 states and 25 countries, Northrop
Grumman serves U.S. and international military, government and commercial
customers.
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION
OF AN OFFER TO SELL SHARES OF NEWPORT NEWS SHIPBUILDING. THE EXCHANGE OFFER
STATEMENT (INCLUDING THE PROSPECTUS, THE RELATED LETTER OF ELECTION AND
TRANSMITTAL AND OTHER OFFER DOCUMENTS) FILED BY NORTHROP GRUMMAN WITH THE
SEC CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY BEFORE ANY
DECISION IS MADE WITH RESPECT TO THE OFFER. THE PROSPECTUS, THE RELATED
LETTER OF ELECTION AND TRANSMITTAL AND CERTAIN OTHER DOCUMENTS WILL BE MADE
AVAILABLE AT NO CHARGE TO ALL STOCKHOLDERS OF NEWPORT NEWS. THE EXCHANGE
OFFER STATEMENT (INCLUDING THE PROSPECTUS, THE RELATED LETTER OF ELECTION
AND TRANSMITTAL AND ALL OTHER DOCUMENTS FILED WITH THE SEC) WILL ALSO BE
AVAILABLE AT NO CHARGE AT THE SEC'S WEBSITE AT WWW.SEC.GOV.
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