Northrop Gets Last OK for Litton Purchase

Northrop Grumman Corp., the fifth-largest U.S. defense contractor, said it won Justice Department antitrust approval for its $3.8-billion purchase of Litton Industries Inc., the last governmental clearance needed to complete the transaction. Northrop said it expects to finalize the purchase of the Woodland Hills-based shipbuilder Monday. The Los Angeles-based company agreed to purchase Litton in December to expand its sales of electronic systems for warships and military aircraft. The European Commission, which can block or change buyouts of companies with combined sales of $4.7 billion, approved the transaction last week. On the New York Stock Exchange, Northrop closed unchanged at $87, while Litton rose 32 cents to close at $80.33.