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Northrop Grumman Moves to Separate from Legendary Shipbuilding Business

Northrop Grumman (NYSE: NOC) issued a statement today indicating the firm is taking concrete steps to separate from its famed shipbuilding business.

The company has filed a Form 10 registration statement with the U. S. Securities and Exchange Commission “in connection with the exploration of strategic alternatives for its shipbuilding business.”

The Form 10 filing would be the first step toward a possible spinoff, but the company is still assessing other separation options, including a sale of the business.

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