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Article: Northrop Grumman plans to sell TRW automotive arm.
- Article from:
- Financial News
- Article date:
- February 25, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. 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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The Sunday Times
Northrop Grumman, the American defence giant which is launching a hostile takeover of TRW, the aerospace and automotive group, has said it had identified a buyer for TRW's automotive arm, which it plans to sell off.
Northrop said that the arm will have to be sold if its bid for TRW goes ahead. Sources declined to name the prospective buyer, but speculation in the US centred on GKN, Federal-Mogul or the Lear Corporation.
The Business
Northrop may spin off TRW's automotive division if its bid succeeds. Analysts believe that a $5bn (E6bn) flotation of the division, which makes steering, safety, and suspension bridges for ...