Northrop Gets Backing for TRW Merger
From Bloomberg News
Northrop Grumman Corp. won Defense Department backing for its $11.8-billion purchase of TRW Inc., probably assuring that the sale would receive antitrust approval, people familiar with the matter said.
The acquisition would give Northrop about $2 billion a year in Pentagon contracts.
Century City-based Northrop has scheduled a shareholder vote on the transaction Dec. 11. Northrop shares rose $4, or 4.4%, to $96 on the New York Stock Exchange, where TRW shares rose $2.53, or 5.2%, to $50.79.
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