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News briefs: April 13-14
Posted: Mon, Apr 15, 2002, 8:10 AM ET (1210 GMT)
- Northrop Grumman announced late Sunday evening that it has increased its offer for TRW to $53/share. The new offer, valid through May 3, values TRW at $6.68 billion. TRW shares closed Friday at just under $52/share. TRW officials said in a statement issued several hours after Northrop's that they will issue their recommendation on the offer "in due course".
- Strong competition in the aerospace industry is cutting profit margins and could bode ill for the industry, executives from several companies said at the National Space Symposium last week. Companies are also endangered by heavy debt loads from the recent spate of mergers and acquisitions among aerospace companies, as well as a "brain drain" as the industry's aging workforce retires, according to a summary published in the Denver Post.
- The US military is considering developing a reusable military spaceplane that could serve as a bomber in future conflicts, the Huntsville Times reported. The Air Force and NASA have been sharing technology in a number of areas that could support both the development of a spaceplane as well as civilian RLVs.
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