Shareholders of TRW Inc. reject Northrop Grumman Corp.’s proposal to purchase a 20% stake in the company through a stock buyout. Northrop was offering TRW stockholders $53 per share in their unsolicited $6.7 billion buyout offer. TRW’s board of directors continually has insisted Northrop’s offer is "financially inadequate, highly conditional and not in the best interests of TRW shareholders." TRW Chairman Phil Odeen says officials from TRW and Northrop met May 2 to discuss the ...

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