Global defense company Northrop Grumman Corp. forwards a proposal to the board of directors of TRW Inc. to acquire the conglomerate, except for TRW’s automotive division, which the company says it will sell off. In its proposal letter to TRW, Northrop Grumman says it recognizes "that the automotive business is an outstanding operation in its own right, but we believe that it does not logically fit with either your or our other business segments." Northrop Grumman says it would give $47 ...

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