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
|
|
Wednesday, June 24
Rakuten to Launch Japan’s 1st Domestic Smartphone Satellite Communication Network, Aiming to Compete with Starlink
Yomiuri Shimbun — 6:28 am ET (1028 GMT) Falcon 9 Launch of Starlink Satellites from Vandenberg SFB Scheduled for Wednesday Night
KEYT-TV Santa Barbara, CA — 6:28 am ET (1028 GMT) SpaceX launch planned for Wednesday from Vandenberg Space Force Base
KSBY-TV San Luis Obispo, CA — 6:26 am ET (1026 GMT) Space Force must prepare for all-out warfare, think tank says
Defense One — 6:26 am ET (1026 GMT) War games in orbit: Rocket Lab shows US Space Force it's good to go
Radio New Zealand — 6:25 am ET (1025 GMT) |
