Northrop, TRW complete merger
Posted: Fri, Dec 13, 2002, 7:30 AM ET (1230 GMT)
Northrop Grumman completed its merger with TRW with shareholder votes by the two companies on Wednesday. Both companies held special shareholder meetings to vote on the final merger plan, one day after Northrop won a consent decree from the Justice Department that cleared the final regulatory hurdle. More than 90 percent of Northrop shareholders voted for the merger; the tally from the TRW vote was not announced. Northrop officials said after the votes that the merger would close "promptly". TRW's Space and Electronics division will be renamed Northrop Grumman Space Technology, while TRW's Systems division will be renamed Northrop Grumman Mission Systems. The merged company will join Lockheed Martin and Boeing as the nation's largest defense contractors, with a particular strength in military spacecraft systems.
Northrop Grumman completed its merger with TRW with shareholder votes by the two companies on Wednesday. Both companies held special shareholder meetings to vote on the final merger plan, one day after Northrop won a consent decree from the Justice Department that cleared the final regulatory hurdle. More than 90 percent of Northrop shareholders voted for the merger; the tally from the TRW vote was not announced. Northrop officials said after the votes that the merger would close "promptly". TRW's Space and Electronics division will be renamed Northrop Grumman Space Technology, while TRW's Systems division will be renamed Northrop Grumman Mission Systems. The merged company will join Lockheed Martin and Boeing as the nation's largest defense contractors, with a particular strength in military spacecraft systems.
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