LVA -- Lucas Varity ... The REAL LVA ... Message Board

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Non-Tech : LVA -- Lucas Varity ... The REAL LVA ...

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To: Duker who wrote ()	1/28/1999 9:01:00 AM
From: Duker	of 2

Too Late !!! TRW Confirms Cash Tender Offer For LucasVarity PLC CLEVELAND (Dow Jones)--TRW Inc. (TRW) confirmed that it will launch an all-cash tender offer for LucasVarity PLC (LVA) at $47.35 for each American Depositary Receipt, or about $7 billion total. In a press release Thursday, TRW said it expects the purchase to add to earnings per share immediately, excluding one-time costs. TRW expects to save $200 million a year by 2001 as a result of the transaction. The company received cash financing for the purchase from J.P. Morgan, Bank of America and Citibank. Victor Rice, chief executive of LucasVarity, will become vice chairman of TRW and head of combined automotive operations. TRW expects Rice to become a director, as well. TRW and LucasVarity's directors approved the transaction. The companies expect to complete the transaction in the second quarter.

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