Business Services Industry
TRW Announces Redemption of 'Poison Pill' Rights
Business Wire, Jan 24, 2000
Business Editors
CLEVELAND--(BUSINESS WIRE)--Jan. 24, 2000
TRW Inc. (NYSE:TRW) today announced that it will redeem the stock purchase rights issued pursuant to the Rights Agreement dated as of April 24, 1996, commonly known as a 'poison pill.' In redeeming the rights, the Board authorized a one-time payment to stockholders of $.005 per common share, which will be paid on March 15, 2000, to stockholders of record on February 11, 2000, in addition to the Company's previously announced quarterly dividend payment of $.33 per share.
Shareholders do not have to take any action to receive the redemption payment and do not have to exchange their stock certificates.
TRW provides advanced technology products and services for the automotive, aerospace, and information systems markets. The company's news releases are available through TRW's corporate Web site (http://www.trw.com).
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