Litton wins Avondale Industries with 511.2 million euros cash bid

Article Abstract:

Litton Industries Inc. has reached an agreement to acquire Avondale Industries Inc. for approximately $529 million (511.2 million euros) in cash. The agreement brought a one-month battle with Newport News Shipbuilding Inc. for Avondale to a close. Newport refused to make an additional bid for Avondale, a shipbuilder based in New Orleans. Litton's acquisition price for Avondale comes out to $39.50 per share.

Comment:

Litton to acquire Avondale Industries for approximately $529 million (511.2 million euros)

Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, Communications Eqp ex Tel, Communications Equipment Manufacturing, Mergers, acquisitions and divestments, Telecommunications equipment industry, Telecommunications equipment, Abstract, Litton Industries Inc., Avondale Industries Inc.

Probe of Enron officers intensifies

Article Abstract:

Former Enron Corp. chief executives Kenneth Lay and Jeffrey Skilling could be charged with criminal offenses by US federal prosecutors. Prosecutors, who have conducted an 18-month probe into Enron, plan to make decisions soon on whether or not to press charges against Skilling and Lay.

Legal issues & crime, Company legal issue, Investigations, Chief executive officers

Lay's legacy: corporate change -- but not the kind he expected

Article Abstract:

Kenneth Lay's death came just weeks after his conviction on conspiracy and fraud charges. The former Enron chairman will be best remembered as the cause of the sweeping changes to the laws of corporate governance.

Natural gas transmission, Obituary