Northrop Grumman's surprise bid to buy Newport News Shipbuilding is based on "concerns" about preserving competitiveness and avoiding antitrust issues associated with General Dynamics' offer to buy the company. Last week, the board of directors of Northrop Grumman authorized the company's management to match an offer made on Apr. 25 by General Dynamics of $67.50 per share of all Newport News' outstanding shares of common stock.
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