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Defense contractor and auto parts maker TRW Inc. on Wednesday advised shareholders to reject Northrop Grumman Corp. s sweetened $6.7 billion takeover offer, calling the U.S. defense giant s bid financially inadequate.The Cleveland-based TRW said its board unanimously voted to reject the hostile $53 per share, all-stock bid, which Northrop submitted on Sunday night after revising its initial $47 per share offer.TRW, which makes defense and
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stanley website sts of TRW shareholders, said TRW chairman Philip A. Odeen.TRW s board said the new offer continues to undervalue TRW s business and its opportunities, and said the company s current plan to accelerate its debt reduction and spin off its automotive parts business would offer shareholders more long-term value. Pursuant to Ohio law, TRW shareholders are scheduled to meet on April 22 to vote on whether the board should pursue the transaction. ponent--type-recirculation .item:nth-child 5 display: none; inline-recirc-item--id-926a099c-8c88-11e2-b06b-024c619f5c3d, right-rail-recirc-item--id-926a099c-8c88-11e2-b06b-024c619f5c3d display: none; inline-recirc-item--id-926a099c-8c88-11e2-b06b-024c619f5c3d ~ Zqpu Amazon Fire TV Stick Review: A Lot Less Money for a Little Less Speed
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