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Northrop Grumman to Acquire TRW for $60 per Share in Stock

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LOS ANGELES and CLEVELAND, July 1 -- Northrop Grumman will acquire TRW for $60 per share in common stock in a transaction valued at approximately $7.8 billion, the companies announced today. The combination 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, the company said. Following the separation of TRW's automotive business and the sale of TRW's Aeronautical Systems business, Northrop Grumman will be a Fortune 100 company. Northrop will also assume about $4 billion...Read full article

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    Published: July 2002
    defenseNews & Features

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