NTRW rejects Northrup Grumman takeover bid - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

NTRW rejects Northrup Grumman takeover bid

Updated:

(Cleveland-AP) -- Cleveland's TRW Corporation has rejected an unsolicited five-point-nine (b) billion dollar takeover offer from Northrop Grumman Corporation.

TRW says the offer was as inadequate. The company released a statement shortly before midnight saying its board voted unanimously to reject the offer.

TRW says the Northrup Grumman proposal ``undervalues'' T-R-W's leadership positions in the space, defense, information systems and automotive parts industries.

Analysts had said Northrop would benefit most from T-R-W's satellite production unit, which makes satellites used by the military to spy on enemies and coordinate troops, ships and airplanes.

Northrop makes sensors for satellites, but is a relatively small player in the market for military products used in outer space.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.