Northrop Grumman Launches Bid For TRW

Legato Systems agrees to acquire OTG Software, plus more merger news

Northrop Grumman (NOC ) made an unsolicited offer to acquire TRW (TRW ) for $47 per share, or about $5.92 billion. TRW called the timing of the bid "regrettable" since it came only days after its CEO David M. Cote resigned to become chief of Honeywell International, and says it will review the offer. (2/22)

Charter Financial (CHFN ) confirms it made a cash bid of $11.60 per share for Flag Financial (FLAG ) on Feb. 13. It says it's disappointed FLAG's board chose not to accept the bid, and is hopeful the board will reconsider. (2/21)

Legato Systems (LGTO ) says it will acquire OTG Software (OTGS ) for about $403 million, or $11.13 per share. (2/21)

BJ Services (BJS ) says it will acquire OSCA (OSCA ), a specialized oil and gas well completion products and services company, for $28 per share cash, or about $420 million. (2/20)

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