Northrop to complete TRW merger next month
Posted: Wed, Nov 27, 2002, 7:48 PM ET (0048 GMT)
Northrop Grumman announced Wednesday that the company plans to complete its merger with fellow aerospace and defense company TRW next month after winning provisional approval from the US Justice Department. Northrop said in a statement that it will complete the TRW merger in shareholder votes scheduled for December 11. Late Tuesday the Justice Department sent Northrop a draft version of a consent decree that would clear the way for the merger; a final version of the decree is expected to be completed before the December 11 vote and sent to federal court for final approval. Terms of the consent decree were not disclosed, but the agreement apparently does not require the merged company to divest any divisions, including a unit that develops sensors used on satellites built by other companies.
Northrop Grumman announced Wednesday that the company plans to complete its merger with fellow aerospace and defense company TRW next month after winning provisional approval from the US Justice Department. Northrop said in a statement that it will complete the TRW merger in shareholder votes scheduled for December 11. Late Tuesday the Justice Department sent Northrop a draft version of a consent decree that would clear the way for the merger; a final version of the decree is expected to be completed before the December 11 vote and sent to federal court for final approval. Terms of the consent decree were not disclosed, but the agreement apparently does not require the merged company to divest any divisions, including a unit that develops sensors used on satellites built by other companies.
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