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* Lockheed Martin Corp. and Northrop Grumman Corp. shareholders approved Lockheed’s purchase of Northrop for about $12 billion. The votes at both shareholder meetings were overwhelmingly in favor of the deal, which is awaiting approval from the Justice Department and the Defense Department.
* Del Webb Corp., developer of the Sun City retirement communities, confirmed that it’s in talks to sell itself at a price that would value the company “in the low $30s” per share, or about $1.2 billion, including the assumption of debt. It gave no details. Phoenix-based Del operates developments in California, Nevada, Arizona, Texas and South Carolina. Del Webb shares dropped $2.63 to $32 on the New York Stock Exchange.
* Pfizer Inc. said it may sell or spin off its medical technology group as it focuses on its more profitable drug business. New York-based Pfizer’s Schneider unit sells devices used in angioplasty.
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