Northrop May Sell Divisions to Pare Debt
From Bloomberg News
Northrop Grumman Corp. may sell some businesses to help pay down debt after $26 billion in acquisitions over the last decade, Chief Financial Officer Charles Noski said.
Noski, speaking at an investor conference in New York, didn’t identify specific businesses the company might sell.
“We are not going to stop doing mergers and acquisitions, but I will characterize them as more bolt-on acquisitions,” Noski said.
Shares of Los Angeles-based Northrop fell $2.36 to $99.81 on the NYSE.
