Lockheed Martin sets target date for meeting


January 16, 1998

Lockheed Martin Corp. set a target date of Feb. 26 for a special stockholders meeting on the company's $11.6 billion acquisition of Northrop Grumman Corp.

"I can't emphasize enough that this is a target date," Lockheed Martin spokesman Charles Manor said yesterday. "A final date has not been set."

Setting a target date "is indicative we think we are on track to complete this transaction by the end of the quarter," or March 30, Manor said.

Lockheed Martin officials have orally informed New York Stock Exchange officials they have set a record date of Jan. 20, meaning all stockholders as of that day will receive proxy materials and can vote on the transaction.

John Goodman, deputy undersecretary of defense for industrial affairs, told Bloomberg News last month his office was "in the midst" of reviewing the $11 billion acquisition. Goodman's office provides information to the Justice Department on the acquisition's impact on future defense procurement.

Goodman through a spokesman declined yesterday to say anything more on the status of the review.

Pub Date: 1/16/98

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