Sources say Northrop Grumman (NOC) will sell its TASC consulting unit to a pair of...

|About: Northrop Grumman Corpor... (NOC)|By:, SA News Editor

Sources say Northrop Grumman (NOC) will sell its TASC consulting unit to a pair of private-equity firms - KKR and General Atlantic - for $1.65B. TASC unit provides engineering and consulting services to the U.S. military and state governments. Welcome home LBOs. Update at 4:25: Confirmed. Northrop expects the sale to generate net cash proceeds of $1.1B, which it will use to repurchase shares.