SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 22, 1999
NEWPORT NEWS SHIPBUILDING INC.
(Exact name of registrant as specified in its charter)
Delaware 1-12385 74-1541566
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
4101 Washington Avenue, Newport News, VA 23607
(Address of principal executive offices) (zip code)
(757) 380-2000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Newport News Shipbuilding Inc. ("Newport News") and Avondale
Industries, Inc. ("Avondale") announced yesterday that the 30-day waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with
respect to their proposed merger has expired. The expiration of the
waiting period is an important step toward closing the transaction, which
remains subject to the approval of the shareholders of both companies.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 Press Release
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
NEWPORT NEWS SHIPBUILDING INC.
Date: February 23, 1999 By: /s/ Stephen B. Clarkson
----------------------------
Name: Stephen B. Clarkson
Title: Vice President, General Counsel and
Secretary
<PAGE>
Exhibit Index
Sequential Page
Exhibit No. Description of Exhibit Number
Exhibit 99.1 Press Release 5
<PAGE>
EX-99.1
PRESS RELEASE
NEWPORT NEWS
SHIPBUILDING
NEWS RELEASE
DEPARTMENT OF JUSTICE CLEARS
NEWPORT NEWS' MERGER WITH AVONDALE
NEWPORT NEWS, VA/NEW ORLEANS, LA - February 22, 1999 - Newport
News Shipbuilding (NYSE-NNS) and Avondale Industries, Inc.
(Nasdaq/NMS-AVDL) announced today that the 30-day waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to their
proposed merger has expired. The expiration of the waiting period is an
important step toward closing the transaction, which remains subject to
the approval of the shareholders of both companies.
Newport News Shipbuilding designs and constructs nuclear powered
aircraft carriers and submarines for the U.S. Navy and provides life cycle
maintenance services for ships in the Navy fleet. The company employs
18,000 people and has annual revenues of approximately $1.8 billion.
Avondale Industries, Inc. headquartered in metro New Orleans,
designs, builds and overhauls both military and commercial ships. The
Company employs 6,000 people and has annual revenue of approximately $750
million.
CONTACT: Dave Anderson - Investors (757) 380-7600 or George Sard or
Paul Verbinnen - Media (212) 687-8080.
