TRW Automotive to acquire by German ZF for $13.5 bln
by
BERLINSep 15, 2014 - 12:00 am GMT+3
by
Sep 15, 2014 12:00 am
U.S. auto parts maker TRW Automotive Holdings Corp said it would be bought by German peer ZF Friedrichshafen for $13.5 billion, including debt, creating a global automotive supply powerhouse.
ZF's offer of $105.60 per share in cash represents a premium of 1.7 percent to TRW's closing price of $103.85 on Friday.
ZF, a major provider of steering systems and powertrains, would get a leading maker of automotive safety products, such as brakes and air bags, Reuters had reported earlier.
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