AEROSPACE

Grumman Neutral on Northrop Bid: In a filing with the Securities and Exchange Commission, Grumman Corp., which has agreed to hold merger discussions with Northrop Corp., said it would take no position yet on Northrop’s hostile bid for the company. Northrop, the Los Angeles-based aircraft builder, has offered to buy Grumman for $60 a share, or $2.04 billion. The hostile offer came shortly after Grumman agreed to be purchased by Martin Marietta Corp., of Bethesda, Md., for $55 a share, or $1.93 billion. Grumman closed Friday at $63.25, up 25 cents a share, Martin Marietta closed at $45.25, up 25 cents and Northrop was off $1.25 at $44.125, all on the New York Stock Exchange.