AM Online

Lucas sale imminent

Defence firm Northrop Grumman is still in talks with the US Justice Department over its proposed merger with its rival TRW – and hopes that a 'mutually acceptable consent decree can be reached within several days.' The sale of TRW's automotive division, the Lucas brand owner to New York Equity House Blackstone Group for £2.99 bn is dependent on a clearing of the log jam in the defence company merger.

If the consent decree is not finalised today, says Northrop, the companies have agreed that they will not close the merger until the consent decree is finalised – or until December 16 – whichever is the earlier.

Both Northrop and TRW shareholders are expected to vote on the merger this Wednesday (December 11).

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