BAE Systems, General Dynamics and Raytheon have joined Northrop Grumman in bidding for TRW's space and defence businesses, according to press reports last week. The companies declined to confirm the reports, although BAE said last month that it was examining TRW. After selling its aeronautical business last month for $1.5 billion to Goodrich, TRW is left with automotive components, space and defence businesses. Analysts have criticised earlier Northrop Grumman acquisitions, particularly Litton and Newport News, bought last year. Rating agency Standard & Poor's says the debt from a cash purchase could damage General Dynamics and Raytheon.
Source: Flight International
