Northrop Grumman Corporation and TRW Inc. have announced a special meeting date of Dec. 11, 2002, for their respective shareholders to vote on the companies’ proposed merger.
“We remain confident that this transaction provides tremendous value to both companies’ shareholders, employees and customers,” said Kent Kresa, Northrop Grumman chairman and chief executive officer.
Philip A. Odeen, chairman of TRW, said, “The combined company’s technology and talent will create a powerful and highly competitive enterprise with excellent growth prospects.” Kresa and Odeen added that they look forward to completing the transaction by year-end.
TRW’s special meeting of shareholders is scheduled for 8:30 a.m. EST at TRW’s executive offices, 1900 Richmond Road, Lyndhurst, Ohio. TRW shareholders of record as of the close of business on Nov. 4, 2002, will be entitled to vote at the meeting.
Northrop Grumman’s special meeting of shareholders is scheduled for 9 a.m. PST at the Fairmont Miramar Hotel, 101 Wilshire Blvd., Santa Monica, California. Northrop Grumman shareholders will be asked to vote on the issuance of shares of Northrop Grumman common stock in accordance with the exchange ratio, as well as on the proposed merger with TRW.
Northrop Grumman shareholders of record as of the close of business Nov. 4, 2002, will be entitled to vote at the meeting.
On July 1, 2002, Northrop Grumman and TRW Inc. announced that they had entered into a definitive merger agreement. The transaction has received approval in Europe by the European Commission and regulatory approval is pending in the United States. The companies expect to complete the transaction in Dec. 2002.
