Northrop Grumman announced today it has agreed to sell TRW's automotive business to private investment firm The Blackstone Group for $4.7 billion. Blackstone's purchase of TRW Automotive will be the first investment made by the group using its $6.45 billion private equity fund, according to a joint statement. The automotive group posted sales of more than $10 billion during 2001. Northrop Grumman last July agreed to acquire TRW for $60 per share in common stock in a transaction valued at...
