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Article: Breaking up is hard to do; to fend off Northrop Grumman's unwanted bid, management is being forced to contemplate splitting up the company. (Company of the month: TRW).(Northrop Grumman Corp. continues to attempt to acquire TRW Inc.)(Brief Article)
- Article from:
- Interavia Business & Technology
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Aerospace Media Publishing. 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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For a company with more than $16 billion in sales, TRW manages to keep a low profile. At least, it did until February, when Northrop Grumman continued its acquisition rampage by making a bid to acquire the company. The bid caught TRW wrong-footed, days after the unexpected and unwelcome departure of its chairman and CEO, David Cote. A graduate of the Jack Welch school of management at General Electric, Cote had been brought into TRW in 1999 to sort out some of the company's problems, including a pile of debt left over from its acquisition of LucasVarity, and was only part-way through this process when fellow Welch trainee Larry Bossidy invited him to take over at ...