spacetoday.net: Business briefs: June 29-30

Posted: Mon, Jul 1, 2002, 7:41 AM ET (1141 GMT)

Northrop Grumman and General Dynamics have emerged as the two companies most likely to purchase TRW, Space News reported Friday. The article cited an unnamed source familiar with negotiations as saying that the two companies had the best prospects to acquire the space and defense businesses of TRW. Bids were submitted last week and a decision is expected in the near future.
The assets of telescope maker Celestron have been acquired by a group led by its senior managers, who plan to continue company operations without interruption, Sky and Telescope reported Saturday. Celestron's fate became uncertain when its parent company, Tasco, defaulted on $30 million in loans and announced plans to liquidate assets. Celestron's telescopes are popular among many amateur astronomers.