In LOS ANGELES item headlined "Northrop says in deal to sell TRW unit," please read in 3rd paragraph .. sell or spin off .. instead of .. sell of spinoff ... (fixes typo).
A corrected repetition follows:
LOS ANGELES, Nov 19 (Reuters) - Defense company Northrop Grumman Corp. , which intends to buy TRW Inc. , said on Tuesday it signed a deal to sell TRW's auto parts unit to New York private equity firm Blackstone Group for nearly $4.73 billion.
U.S. officials are reviewing Northrop's planned purchase of TRW, mainly for its defense operations, for $6.5 billion in an all-stock transaction.
Four months ago, when Northrop announced the deal, it made clear it would either sell or spin off the non-core auto parts business. The proposed deal with Blackstone removes uncertainty among Northrop shareholders about how long the company would own the auto parts business.
Northrop would retain around 20 percent in the business after the intended closing of the TRW deal in the first quarter of 2003.