AEROSPACE: NORTHROP GRUMMAN CLEARED TO BUY TRW.

(From European Report)

The European Commission has authorised US aerospace and defence firm Northrop Grumann to acquire fellow US company TRW Inc. In a decision announced on October 16, the Commission said that the deal would only have a marginal impact in the European market where Northrop Grumann faces competition from a range of suppliers including EADS, BAe Systems and other companies.

In its routine investigation, the Commission's Merger Task Force found that the two parties had a limited presence in Europe and generate most of their revenues from sales to the US Department of Defence and other US agencies. The inquiry discovered there were few overlaps …