Northrop-TRW deal still on track
- By Nick Wakeman
- Oct 16, 2002
Northrop Grumman Corp.'s acquisition of TRW Inc. remains on track to close by the end of the year, the company said Oct. 16, after the 30-day antitrust waiting period imposed by the Justice Department ended at midnight the day before.
The waiting period was related to request for information under the Hart-Scott-Roino Anti-Trust Improvements Act. The Justice Department, however, continues to review the proposed transaction.
Northrop Grumman has agreed to give the Justice Department notice of 10 business days before Northrop Grumman or TRW shareholders meet regarding the acquisition.
The acquisition of TRW is valued at about $7.8 billion and will create a defense contractor with about $26 billion in annual revenue. The IT portion of the business will be about $7 billion.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.