Northrop to buy Essex for about $551.5 million
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From Bloomberg News
Northrop Grumman Corp. agreed to buy Essex Corp. for about $551.5 million to expand sales to U.S. government defense and intelligence customers.
The price would be $24 a share in cash, or about $580 million including debt, Century City-based Northrop said.
Shares of Northrop fell $1.42 to $64.98. Columbia, Md.-based Essex rose 33 cents to $19.98.
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