Northrop Grumman To Acquire TRW

Jan. 13, 2005
Compiled By Jill Jusko Northrop Grumman Corp. will acquire TRW Inc., Cleveland, for $60 per share in common stock in a transaction valued at approximately $7.8 billion and the assumption of TRW's net debt at the time of closing, the companies jointly ...
Compiled ByJill Jusko Northrop Grumman Corp. will acquire TRW Inc., Cleveland, for $60 per share in common stock in a transaction valued at approximately $7.8 billion and the assumption of TRW's net debt at the time of closing, the companies jointly announced July 1. Both boards of directors unanimously approved the acquisition of TRW. After completion of the merger, Los Angeles-based Northrop Grumman plans to either sell TRW's automotive business or spin it off to shareholders, the company said. A previously announced agreement to sell TRW's aeronautical systems business to Goodrich Corp. is unaffected by the Northrop Grumman acquisition announcement. The acquisition will position Northrop Grumman as the nation's second largest defense contractor with projected annual revenues of more than $26 billion and approximately 123,000 employees. Following the close of the transaction, TRW's defense business will initially operate as a separate Northrop Grumman sector, reporting to the office of the chairman, Northrop Grumman said. The company said it foresees little change in employment levels in the defense business as a result of this transaction. The transaction is subject to the approval of shareholders of both companies and government regulatory approval both in the U.S. and Europe. The companies expect to complete the transaction in the fourth quarter of 2002.

Popular Sponsored Recommendations

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!