27 Nov 02. Northrop Grumman Corp. (NYSE:NOC – News) said on Wednesday it believes the Pentagon has recommended to the Justice Department that its planned $6.6bn acquisition of military and auto parts maker TRW Inc. (NYSE:TRW – News) can proceed.
The recommendation is contingent upon the acceptance of a consent decree that calls for Northrop to maintain competition in the satellite technology industry. The draft of the decree does not require the merged company sell off any businesses, Northrop said in a statement. Northrop said it told the Justice Department it plans to closed the deal on Dec. 11. Shareholders of both companies are scheduled to vote on the acquisition on that date.