TRW Shareholders Reject Hostile-Takeover Protection Policy.(Knight Ridder/Tribune Business News)

Knight Ridder/Tribune Business News, January, 2000 by Mackinnon, Jim

Jan. 25--TRW shareholders didn't want to swallow a so-called poison pill policy that made it costly for unwelcome suitors to buy the company out.

So yesterday, TRW's board of directors voted to end its nearly 4-year-old poison pill policy and pay shareholders a half-cent per share in March.

That doesn't mean the automobile, aerospace and information system supplier now is a likely takeover target, though.

"At this time, we don't see a need for (the poison pill policy)," said TRW spokesman Jay McCaffrey.

TRW's estimated $9 billion in debt is more than enough to deter potential suitors, hostile or otherwise, according to one analyst.

"The company has said shareholders don't like poison pills," said Brett Hoselton, who tracks...

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