Northrop revises cuts gain on TRW stock sale

Newswire

NEW YORK, March 21 (Reuters) - Northrop Grumman Corp. has cut its expected after-tax gain on a sale of shares in TRW Holdings Corp. stock to $45 million, or 12 cents a share, from a previously announced $70 million, or 19 cents a share, the defense contractor said on Monday. Los Angeles-based Northrop Grumman said in a statement it would pay no cash taxes on the sale and would record a $25 million reduction of goodwill from the deal.

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