TRW to redeem two covertible preferred issues

Newswire

CLEVELAND, July 26 (Reuters) - Defense and auto parts marker TRW Inc. said Friday it will redeem on Aug. 30 all outstanding shares of its Series 1 and 3 preferred stock not converted to common stock by then. The Cleveland-based company, which has agreed to be bought by defense firm Northrop Grumman Corp. , will pay $104 apiece for Series 1 shares and $100 apiece for Series 3 shares. Series 1 holders also can convert each share into 8.8 shares of TRW's common stock and Series 3 ...

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