Northrop To Sell TASC Unit To Investors For $1.7B

Law360, New York (November 9, 2009, 1:24 PM EST) -- Northrop Grumman Corp. has said it will sell its advisory services business TASC Inc. for $1.65 billion in cash to an investor group led by private equity firms General Atlantic LLC and affiliates of Kohlberg Kravis Roberts & Co. LP.

The sale, which Northrop is making in part to adhere to new U.S. government organizational conflict of interest rules, could generate about $1.1 billion after taxes in net cash proceeds for the company, according to a statement released Sunday.

That would be used to repurchase shares...
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