TRW rejects latest offer from Northrop
Posted: Wed, Apr 17, 2002, 2:17 PM ET (1817 GMT)
TRW announced Wednesday that it is recommending to its shareholders that they reject the latest takeover offer from Northrop Grumman. TRW's board of directors determined that the $53/share offer was "financially inadequate". Northrop had increased its offer from $47 to $53/share late Sunday. TRW did say that it was exploring "all strategic alternatives", and said it had been approached by other, unnamed companies regarding merger possibilites. TRW's announcement came at the same time it released its financial statements for the first quarter of 2002, showing a 20 percent increase in operating earnings per share over the same quarter of 2001. TRW's shares were trading at over $54 a share, up nearly $2, by midday Wednesday.
TRW announced Wednesday that it is recommending to its shareholders that they reject the latest takeover offer from Northrop Grumman. TRW's board of directors determined that the $53/share offer was "financially inadequate". Northrop had increased its offer from $47 to $53/share late Sunday. TRW did say that it was exploring "all strategic alternatives", and said it had been approached by other, unnamed companies regarding merger possibilites. TRW's announcement came at the same time it released its financial statements for the first quarter of 2002, showing a 20 percent increase in operating earnings per share over the same quarter of 2001. TRW's shares were trading at over $54 a share, up nearly $2, by midday Wednesday.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Monday, March 9
IDF strikes IRGC aerospace headquarters linked to satellite, missile program
Jerusalem Post — 6:10 am ET (1010 GMT) Blue Origin plans indicate new 800,000-square-foot Merritt Island facility
Florida Today — 6:08 am ET (1008 GMT) Chinese scientists map chemical composition of the Moon’s far side using AI model
Global Times — 6:06 am ET (1006 GMT) Commercial space stations the next big thing in space
Indian Express — 6:06 am ET (1006 GMT) ISRO-ESA agreement: Space agencies sign agreement for Earth Observation missions
The Hindu — 6:06 am ET (1006 GMT) |
