Northrop Grumman and TRW have signed an agreement that would allow Northrop access to TRW's internal financial records, paving the way for Northrop possibly raising its $53-per-share offer for TRW, the two companies announced today. As part of the agreement, Northrop agreed to a "standstill" clause that would prohibit it from purchasing any more shares of TRW. While officials from the two companies declined to specify the exact length of the standstill period, sources told InsideDefense.com that it would last...
