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Article: Northrop Grumman Sells 7.3 Million TRW Automotive Shares for $142.6 Million.
- Article from:
- PR Newswire
- Article date:
- March 10, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Northrop Grumman Corporation announced today the sale of 7,256,500 shares of TRW Automotive Holdings Corp. for approximately $142.6 million, or $19.65 per share. The sale, which is expected to close Friday, March 11, 2005, will result in a first quarter 2005 after-tax gain of approximately $70 million, or $0.19 per share.
The shares were sold in private transactions to TRW Automotive Holdings Corp. which will issue and sell the same amount of shares in private transactions with institutional accredited investors. Automotive Investors LLC (an affiliate of the Blackstone Group) granted its approval for Northrop Grumman's sale in lieu of the registration of three ...