 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
DoJ And Northrop Grumman Agree To TRW Acquisition Timeline
Los Angeles - Oct. 16, 2002 Northrop Grumman Corporation today announced that it continues to anticipate a fourth quarter 2002 closing of its proposed acquisition of TRW Inc. A 30-day waiting period related to a Second Request for Information under the Hart-Scott-Rodino Anti- Trust Improvements Act of 1976 expired at midnight Oct. 15. The Justice Department, however, continues to review the proposed transaction. Northrop Grumman has agreed with the Justice Department not to close the proposed acquisition without providing the Department with proper notice. Such notice will be given no sooner than 10 business days prior to the earlier of Northrop Grumman's or TRW's shareholders' meeting regarding the acquisition. According to the company, the agreement is not unusual, and allows the Department of Justice sufficient time to conclude an orderly review of the transaction. Northrop Grumman and TRW jointly announced July 1 that they had entered into a definitive merger agreement. Under the terms of the agreement, Northrop Grumman will acquire TRW for $60 per share in common stock in a transaction valued at approximately $7.8 billion, plus the assumption of TRW's net debt at the time of closing. The exact exchange ratio will be determined by dividing $60 by the average of the reported closing sale prices per share of Northrop Grumman common stock on the New York Stock Exchange for the five consecutive trading days ending on and including the second trading day prior to the closing of the merger. The exchange ratio will not be less than 0.4348 or more than 0.5357 of a Northrop Grumman share. Community Email This Article Comment On This Article Related Links Northrop Grumman Corporation TRW SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Squeezing Ukraine In Space
Moscow (UPI) Dec 18, 2005Despite political differences, Russia and Ukraine used to play on the same "space" field in pre-"Orange Revolution" times. Today the situation is radically altered and the Ukrainian space industry risks stagnating and losing its positions as the space component of the national economy. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
