Markets & Finance

Northrop Raises Bid for TRW

Northrop Grumman (NOC) increased its hostile bid for TRW Inc. (TRW) to $53 a share, or $6.68 billion. TRW has rejected Northrop's initial offer of $47 per share ($5.9 billion), plus the assumption of $5 billion in debt. (4/15)

AT&T Wireless (AWE) is reportedly in talks to be bought by Cingular Wireless, which 60% owned by SBC

and 40% by BLS

(from Bloomberg). (4/15)

IFR Systems (IFRS) agrees to be acquired by Aeroflex (ARXX) for about $60 million, including retirement of debt. (4/15)

Nortek (NTK) gets a formal proposal from Kelso & Co. to acquire the company for $40 a share in cash. Upon closing, the company's management would keep a substantial portion of its existing stake in NTK. (4/15)

Crossmann Communities (CROS) adjusts the stock portion of its acquisition of a Beazer Homes USA Inc. (BZH). Crossman holders will receive $17.60 cash and 0.3544 of a Beazer share. (4/12)

Bancorp Connecticut (BKCT) agrees to be acquired by Banknorth Group (BKNG) for $28 cash per share, or a total of $157 million. (4/11)

Herbalife International (HERBB) agrees to be acquired by two private equity firms in a deal valued at $19.50 cash per class A and class B shares, or total of $685 million. (4/11)

The limited partnership led by CEO and President Chairman Robert Hammond proposes to take Partsbase (PRTS) private, and pay holders $1.02 per share. (4/10)

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