The Defense Department has no timetable in which to make a decision. General Dynamics has not yet applied for antitrust review, as required, so no agency has jurisdiction. Typically, though, the Department of Justice reviews defense mergers. The Justice Department review, which could take as little as 15 days, traditionally follows Pentagon recommendations. Meanwhile, shipyard Chairman Bill Fricks and General Dynamics Chairman Nicholas Chabraja made the rounds on Capitol Hill to drum up support for the merger.
Analysts expect the deal to be approved.
The companies expect to close the transaction in the third quarter and then mail checks to shareholders. Those who bought shares through a broker could have to pay fees, for instance. And, of course, the Internal Revenue Service will want a piece, too.