Avondale Announces Board Determination.NEW ORLEANS--(BUSINESS WIRE)--May 11, 1999-- Avondale Industries, Inc. (NASDAQ/NMS:AVDL AVDL Application Vulnerability Description Language ) announced today that its Board of Directors has determined that the Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. , Inc. proposal to acquire Avondale common stock for $38 in cash could lead to a proposal which is superior to the terms of its agreement to merge with Newport News Newport News, independent city (1990 pop. 170,045), SE Va., on the Virginia peninsula, at the mouth of the James River, off Hampton Roads, near Norfolk; inc. 1896. Shipbuilding. Avondale's Board authorized its management to commence discussions with Litton regarding the proposal. Avondale Industries, Inc., headquartered in metro New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , designs, builds and overhauls both military and commercial vessels. |
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