TRW’s board approved anti-takeover measures.

The Cleveland-based giant in defense contracting and credit reporting services approved a stock purchase plan that gives its stockholders the right to buy one TRW share for every share that they already own at a price of $250. If an acquiring party buys 20% of TRW’s stock and then merges with the company, the shareholders will be entitled to buy $500 worth of the surviving company’s shares at a 50% discount from the going price.