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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	6/25/2002 11:29:19 AM
From: ebg51	of 10852

Northrop submits revised bid for TRW-sources -------------------------------------------------------------------------------- NEW YORK, June 25 (Reuters) - Defense contractor Northrop Grumman Corp. <NOC.N>. has revised its earlier bid for TRW Inc., <TRW.N> 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 <BA.L>, the UK defense company, has put in a bid to buy TRW's defense assets. Sources here said two other defense groups General Dynamics <GD.N> and Raytheon Co. <RTN.N> has submitted bids for the same business as well. -------------------------------------------------------------------------------- Copyright © Reuters 2002. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

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