TRW Shareholders: Open Books for Northrop Grumman

Wednesday, April 24, 2002
Northrop Grumman Corporation Chairman and CEO Kent Kresa stated emphatically that, "TRW shareholders have sent a strong message to TRW's board of directors today in favor of allowing Northrop Grumman to begin due diligence in connection with its proposed acquisition of TRW. We are prepared to immediately enter discussions with TRW to resolve the outstanding differences concerning an agreement that allows Northrop Grumman to begin due diligence consideration of non-public information as soon as possible.

"As we have previously stated, we are willing to pay full and fair value for TRW and encourage TRW to provide information supporting any additional hidden value. However, we need to conduct due diligence before we can enter into substantive discussions that could lead to a negotiated transaction. We remain confident that a combination of TRW and Northrop Grumman would be in the best interests of TRW shareholders and employees," Kresa said.

Northrop Grumman stated a combination of TRW and Northrop Grumman would create a third major player in the growing defense space business, providing our country with enhanced competition and innovation in key areas of national defense. TRW would also add complementary capabilities in communications, electronics and information warfare, while broadening Northrop Grumman's information technology customer base. The combination would create the nation's largest supplier of information technology services to the federal government.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

GAC Starts Hull Cleaning Op'ns in Oman

GAC EnvironHull hull cleaning operations using the brush-and-diver-free HullWiper system starting at the port of Sohar, just outside the Gulf of Hormuz. This

Ensco plc Reports 3Q, 2014 Results

Ensco plcĀ  today reported earnings per share from continuing operations of $1.93 in third quarter 2014, up 16% from $1.66 in third quarter 2013. Adjusted for a $0.

Fukushima Offshore Floating Wind Farm Update

A consortium has been participating in an experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry since March 2012.

Finance

Ensco plc Reports 3Q, 2014 Results

Ensco plcĀ  today reported earnings per share from continuing operations of $1.93 in third quarter 2014, up 16% from $1.66 in third quarter 2013. Adjusted for a $0.

Chevron Announces Quarterly Dividend

The Board of Directors of Chevron Corporation today declared a quarterly dividend of one dollar and seven cents ($1.07) per share, payable December 10, 2014,

Exmar Optimistic About Gas Carrier Market into 2015

Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1331 sec (8 req/sec)