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Northrop Grumman Enters $1 Billion Deal with Goldman Sachs

Northrop Grumman (NYSE: NOC) announced that it has entered into a $1 billion accelerated share repurchase agreement with Goldman, Sachs & Co.

“This transaction will immediately reduce outstanding shares by approximately five percent and demonstrates our continued commitment to value creation through effective cash deployment, ” CEO Wes Bush said. “Upon completion of the repurchase agreement, the remaining balance of our outstanding share repurchase authorization is expected to be approximately $3 billion.”

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