Northrop Grumman announced today that it has extended its offer to buy TRW by two weeks. The extension will last until April 12, the company said in a statement. Northrop is trying to persuade TRW shareholders to accept its $47-per-share offer, a bid which TRW's board of directors has spurned. On Monday, TRW called Northrop's offer "financially inadequate," "opportunistic" and "severely undervalued." Accordingly, TRW Chairman Philip Odeen said "providing confidential, business-sensitive information to Northrop Grumman simply makes no sense." TRW's...
