January 14, 1997 in Nation/World

Raytheon Leading Hughes Bid Fight

From Staff And Wire Reports

Raytheon Co. appears to be leading the bidding war with Northrop Grumman Corp. to acquire the defense assets of GM’s Hughes Electronics for about $9.5 billion, The Wall Street Journal said Monday.

Officials of General Motors Corp. were close to deciding a winner in the bidding battle for the Hughes missile and defense-electronics holdings but the outcome had not yet been announced, the report said.

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