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DOJ wants GD information
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May 25, 2001: 5:25 p.m. ET
General Dynamics to supply more details on Newport News merger plan
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NEW YORK (CNNfn) - A day after Northrop Grumman Corp. threatened to scuttle the planned merger between General Dynamics Corp. and Newport News Shipbuilding, the Justice Dept. requested more information from General Dynamics relating to antitrust issues.
General Dynamics (GD: Research, Estimates) said Friday it would "comply promptly" with the Justice Dept.'s request for information under the Hart-Scott-Rodino Antitrust Improvements Act about its agreed $2.1 billion merger with Newport News (NNS: Research, Estimates).
The Falls Church, Va.-based company said the Hart-Scott-Rodino waiting period will expire 10 days after it complies with request, barring an extension by a court order.
A spokesman for General Dynamics said he had no information regarding the specifics of the request.
On Thursday Northrop Grumman (NOC: Research, Estimates) launched a hostile bid for Newport, matching General Dynamics bid of $67.50 per share. Northrop said it would immediately enter into discussions with Newport News if the company let Northrop conduct a due diligence review.
Shares of General Dynamics rose 30 cents to $77.48 on the New York Stock Exchange Friday, while Newport News fell 18 cents to $63.80 and Northrop Grumman rose 42 cents to $87.02. 
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