Northrop-TRW deal on track

Northrop Grumman Corp.'s acquisition of TRW Inc. remains on track to close by the end of the year, the company said Oct. 16. The 30-day antitrust waiting period imposed by the Justice Department ended at midnight the day before.

The waiting period was related to a request for information under the Hart-Scott-Rodino 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 shareholders will vote Dec. 11 on the merger.

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.

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