Energy News  
SPACEMART
TRW Keeps Heat On Northrop, Opens Books To Other Suitors

File Photo: A TRW solid-state laser is the enabling technology for a new lithography light source that will allow semiconductor manufacturers to produce smaller and faster chips. The new light source will allow next-generation equipment to produce circuit features of less than 0.1 micron - about 1/500-th the width of a human hair - and lead to microprocessors 100 times more powerful than today's.

 Cleveland, (AFP) Apr 29, 2002
 Defence contractor TRW lobbied its shareholders to reject a hostile takeover bid by Northrop Grumman Corp. Monday ahead of a critical May 3 shareholder meeting.

The Cleveland, Ohio-based company, known for its lasers used in anti-missile systems, urged shareholders to vote against a proposal that would allow Los Angeles-based Northrop to launch a full takeover bid.

Northrop's 53 dollar per share offer is "inadequate, highly conditional and below TRW's current market price," TRW's board of directors said in a statement.

TRW stock was trading at 54.57 dollars per share in afternoon trading Monday, close to its 52-week high of 54.98. TRW shareholders will vote Friday on a proposal that would allow Northrop to get around a poison pill provision in Ohio law aimed at checking hostile take-overs.

Meanwhile, TRW said Friday it had signed confidentiality agreements with several other potential suitors interested in examining its books, as it seeks alternative ways of enhancing shareholder value.

Northrop was invited to participate in TRW's process, "but, to date, has declined to do so," the company said Friday.

TRW is also considering spinning off its auto parts business as part of the effort to fend off the hostile bid.

Community
 Email This Article
 Comment On This Article
Related Links
 TRW
 Northrop Grumman
 SpaceDaily
 Search SpaceDaily
 Subscribe To SpaceDaily Express
 The latest information about the Commercial Satellite Industry


Memory Foam Mattress Review
SPACE MEDIA NETWORK PROMOTIONS
 Solar Energy Solutions
Tempur-Pedic Mattress Comparison ...
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


SPACEMART
Squeezing Ukraine In Space
 Moscow (UPI) Dec 18, 2005
 Despite 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.






ENERGY TECH
  • R&D The Key To A Sustainable, Clean Energy Future
  • Republicans Declare Victory On Slimmed Down Energy Bill
  • Converting Wet Bio-Waste Into Energy
  • NASA Develops New Portable Fuel Cell Technology

    • CIVIL NUCLEAR
  • Can A New Generation Of Nuclear Reactors Allay Public Fears
  • Russia Risks Chernobyl-Type Accident At Any Time: Greenpeace
  • EU Insists On Shutdown Of Unsafe Nuclear Reactors
  • Russia May Build Nuclear Power Plant Near, Not In, North Korea

    • BLUE SKY
    WOOD PILE


    FARM NEWS
    CAR TECH


    AEROSPACE
  • Boeing Signs Technology Development Agreement With JAI For Work On Sonic Cruiser
  • Boeing Sonic Cruiser Completes First Wind Tunnel Tests

    • NUCLEAR SPACE
    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