Northrop Launches Formal Bid for TRW

Buyout firm Gores Technology Group is reportedly preparing a bid for Global Crossing, plus more merger news

Northrop Grumman (NOC ) launches a formal $5.9 billion hostile offer for TRW Inc. (TRW ) after TRW's board rejected Northrop's unsolicited bid on Sunday. TRW considers Northrop's Feb. 21 offer to be too low, according to news reports. Northrop offered $47 in stock for each TRW share, plus the assumption of $5.5 billion of debt. (3/4)

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