TRW Confirms Special Shareholder Meeting Postponed to May 3, 2002
CLEVELAND, April 19 - TRW Inc. announced that its Special Meeting of Shareholders will be held at 8:30 am local time on May 3, 2002 at 1900 Richmond Road, Lyndhurst, Ohio. This announcement was made following Northrop Grumman Corporation's decision not to appeal yesterday's ruling by the United States District Court for the Northern District of Ohio. TRW shareholders of record as of the close of business on March 28, 2002 will be entitled to vote at the Special Meeting and will receive supplemental proxy materials shortly.
The purpose of the Special Meeting, a requirement under Ohio's Control Share Acquisition Statute, is to vote only on whether to allow Northrop to purchase more than 20 percent of TRW's shares. Approval of Northrop's proposal could facilitate Northrop's acquisition of TRW at a price that TRW's Board of Directors has determined is financially inadequate.
For that reason, TRW continues to urge shareholders to vote against Northrop's proposals at the upcoming shareholder meetings and reject what the Board believes to be Northrop's financially inadequate, highly conditional offer.
TRW recommends that shareholders discard any proxy card received from Northrop Grumman and not return any blue or green proxy card furnished by Northrop. For more information about how to vote, shareholders can call the Company's proxy solicitor, Georgeson Shareholder Communications Inc. toll-free at (866) 649-8030.
TRW provides advanced-technology products and services for the aerospace, systems, and automotive markets.