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
|
|
SpaceX performs two Falcon 9 launches less than an hour apart
Posted: Sun, Aug 16 10:57 AM ET (1457 GMT) Virgin Galactic delays resumption of commercial flights to 2027
Posted: Sun, Aug 16 10:54 AM ET (1454 GMT) |
|
news links
|
|
Monday, August 17
Ukrainian Flamingo Missiles Reportedly Hit Russia’s Progress Space-Rocket Centre in Samara
EU Today — 4:53 am ET (0853 GMT) Flamingo may have hit Russia's space program at its weakest link
RBC — 4:52 am ET (0852 GMT) MDA Space Satellites for Globalstar Successfully Launched
MDA — 4:51 am ET (0851 GMT) Rocket Lab Satellite Platforms Built for MDA Space Successfully Reach Orbit, Supporting Globalstar Direct-to-Device Communications Services
Rocket Lab — 4:50 am ET (0850 GMT) WA names Space Angel as recipient of spaceport establishment grant
Space and Defense — 4:44 am ET (0844 GMT) |
