HEADLINE NEWS
NORTHROP BRACES FOR MARTIN RESPONSE
NEW YORK Northrop's top management has a message for any would-be suitors, friendly or otherwise: the company is not for sale, it is not encouraging any offers and it expects none to emerge. The Los Angeles-based aerospace prime is banking heavily on a strong "poison pill," or antitakeover provision, in its bylaws to deter any unsolicited bids from a larger defense contractor—or contractors bidding as a team.
By ANTHONY L. VELOCCI