Northrop and TRW, a done deal
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Manufacturing News, Source : TheManufacturer.com
Published : 12 Dec 2002 21:49
Northrop Grumman announced today that, after receiving the necessary shareholder approval, its merger with TRW was official.
TRW will survive the merger as a wholly owned subsidiary of Northrop Grumman, and TRW shareholders will receive 0.5357 shares of Northrop Grumman common stock for each share of TRW common stock.
“As the second largest defense company in the nation, the combined TRW/Northrop Grumman will be a true industry leader with an unparalleled portfolio of technologies, expertise, and capabilities,” said Philip Odeen, TRW chairman.
“When the merger is complete, TRW shareholders will receive Northrop Grumman stock, which will enable them to participate in the upside potential created by the combination of these two great businesses,” Odeen said. “Together with TRW, Northrop Grumman will be a highly competitive organization and well-positioned in each of the fastest growing sectors of the defense industry.”
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