TRW Rejects Northrop's Bid Again

Tyco looks for a buyer for finance unit CIT Group as it files a stock-registration statement, and more merger news

TRW Inc. (TRW ) again rejected Northrop Grumman's (NOC ) hostile bid to be acquired for $47 per share, calling the bid financially inadequate. TRW says it plans to sell its automotive-parts business within nine months. (3/13/)

Tyco International (TYC ) filed a stock-registration statement for a planned spin-off of its finance unit CIT Group. Tyco is also trying to find a buyer for CIT as part of the conglomerate's breakup plan. Tyco acquired CIT last June for about $9.5 billion in cash and stock. (3/12)

Tesma International (TSMA ), a supplier of engine, transmission and fueling systems and modules for the automotive industry, says it has ended talks regarding the merger transaction between it and Magna International's (MGA ) Magna Steyr unit. (3/12)

CS First Boston assigns a low probability in the near term to speculation regarding a merger between Ciena Corp. (CIEN ) and Cisco Systems (CSCO ). (3/12)

Chesapeake Energy (CHK ) says it will acquire Canaan Energy (KNAN ) for $12 cash per share. (3/12)

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