TRW's board of directors has rejected Northrop Grumman's increased $53-per-share offer, reiterating its position that the takeover bid is inadequate and calling on TRW shareholders to reject it at the company's annual shareholder meeting next week, TRW's chief executive officer told financial analysts this morning. "After careful consideration, including consultation with independent financial and legal advisers, our board of directors has unanimously determined that Northrop Grumman's exchange offer for all exchange and outstanding shares of common stock (at) $53 per...
