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Northrop Grumman Exploring Sale of Ship Business

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Faced with the need to consolidate its Gulf Coast shipbuilding operations and a shipbuilding business that increasingly isn't aligned with its long-term strategic priorities, Northrop Grumman [NOC] yesterday said it is exploring strategic alternatives for its shipbuilding business. Strategic alternatives often end up being the divestment or sale of a business. Credit Suisse is the company's financial advisor here. "Our decision to explore strategic alternatives for Shipbuilding is the result of a portfolio assessment to determine how to best serve…

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