Northrop Grumman plans a major share-sale to help pay off some of the debt built up after the $3 billion acquisition of Westinghouse Electric in March. Seven million shares will be offered, mainly in the USA, but no price has yet been set. The company reported a first-quarter income of $61 million - up by 13% from 1995 on static sales of $1.6 billion. The results include one month's operations of the recently acquired Westinghouse defence-electronics business.
Source: Flight International