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MARTIN MARIETTA ISSUES STATEMENT REGARDING LTV

 MARTIN MARIETTA ISSUES STATEMENT REGARDING LTV
 BETHESDA, Md., Aug. 14 /PRNewswire/ -- Martin Marietta


Corporation (NYSE: ML) issued the following statement regarding LTV:
 Martin Marietta believes that pursuing the acquisition of LTV's aircraft and missiles businesses above our $440 million contract price was not in the best interest of our shareholders. We are convinced that future investment opportunities including acquisitions, will provide a better return to our shareholders and broader diversity to our overall business base.
 We re-entered negotiations for these businesses at LTV's request. Our price of $440 million was on the basis of an explicit agrem?ent that our contract would not be subject to public auction.
 While we are disappointed that the highly dedicated and capable professionals of LTV's aircraft and missiles businesses will not be joining the Martin Marietta team, we offer them our profound best wishes.
 We are pleased that a critical principle in the national interest, U.S. private sector control of a major defense contractor, has been upheld. The support of our government in preventing foreign government-ownership of sensitive U.S. defense assets is deeply gratifying.
 -0- 8/14/92 R
 /CONTACT: Charles Manor of Martin Marietta, 301-897-6258/
 (ML QLTV) CO: Martin Marietta Corporation; LTV Corporation ST: Maryland IN: ARO SU: 213 08-14-92 14:13 EDT DC -- DC016 -- 0195 08/14/92 17:03 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
Words:221
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