Northrop claims partial victory in TRW vote
Posted: Thu, Apr 25, 2002, 7:28 AM ET (1128 GMT)
Northrop Grumman and TRW each claimed success in the results of a vote by TRW's shareholders on Wednesday. The shareholders rejected a Northrop request to form an independent panel to evaluate Northrop's takeover offer, as well as a separate request that would have given the shareholders more power to make a decision on the takeover bid. However, shareholders did approve a non-binding resolution that asks TRW to share its non-public financial information with Northrop. Such an exchange of information would be subject to confidentiality agreements, the contents of which were debated between TRW and Northrop officials earlier this week. TRW said the vote was a sign that the shareholders are confident in the company's negotiations with Northrop, while Northrop spun the vote as a sign that shareholders are interested in Northrop's offer.
Northrop Grumman and TRW each claimed success in the results of a vote by TRW's shareholders on Wednesday. The shareholders rejected a Northrop request to form an independent panel to evaluate Northrop's takeover offer, as well as a separate request that would have given the shareholders more power to make a decision on the takeover bid. However, shareholders did approve a non-binding resolution that asks TRW to share its non-public financial information with Northrop. Such an exchange of information would be subject to confidentiality agreements, the contents of which were debated between TRW and Northrop officials earlier this week. TRW said the vote was a sign that the shareholders are confident in the company's negotiations with Northrop, while Northrop spun the vote as a sign that shareholders are interested in Northrop's offer.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Sunday, February 23
AAC Clyde Space presents INFLECION: Safer Oceans, Smarter Shipping, and Greener Future
AAC Clyde Space — 1:45 pm ET (1845 GMT) European Commission Supports Atmos With €13.1 Million EIC Funding
Atmos Space Cargo — 1:44 pm ET (1844 GMT) Welcoming Head of Product to Dominate Innovation Across Navigation and Autonomy
Advanced Navigation — 1:42 pm ET (1842 GMT) Mystery of 'remarkable' cosmic explosion that lay hidden for years
Royal Astronomical Society — 1:41 pm ET (1841 GMT) DESI Uncovers 300 New Intermediate-Mass Black Holes Plus 2500 New Active Black Holes in Dwarf Galaxies
National Optical-Infrared Astronomy Research Laboratory — 1:40 pm ET (1840 GMT) |
