NEW YORK, June 25 (Reuters) - Defense contractor Northrop Grumman Corp. . has revised its earlier bid for TRW Inc., offering a price in the range of $57 to $58 a share, and hoping to thrash out an agreed transaction, sources familiar with the talks said on Tuesday.
Northrop's revised offer is in all shares and is up from its current hostile bid of $55.31 a share, based on Northrop's Monday closing price of $128.35. The revised offer values TRW at about $7.2 billion.
Northrop and TRW are expected to hold talks in the next few days and one person familiar with those talks said Northrop's offer was not final and may change during those talks. Any upward revision would depend on the final cost savings plans that both parties can agree to, he said.
Earlier, sources in London said BAE Systems Plc , the UK defense company, has put in a bid to buy TRW's defense assets. Sources here said two other defense groups General Dynamics and Raytheon Co. has submitted bids for the same business as well.