ZF
Management board approves acquisition of TRW Automotive / Deal expected to close in mid-2015 / Birth of new global OEM giant
 The US company specialises in sensor technologies and autonomous driving (Illustration: TRW) |
ZF Friedrichshafen’s (Friedrichshafen / Germany; www.zf.com) takeover of fellow automotive supplier TRW Automotive (Livonia, Michigan / USA; www.trwauto.com) appears to have been completed, with the latter OEM reporting that the two companies have entered into a definite agreement governing the acquisition.
Under the terms of the deal, the German group will pay about USD 13.5 bn for the manufacturer of safety technology, automation systems, airbags and systems for autonomous driving. The final price tag is about USD 2.5 bn higher than market insiders had initially expected. The boards of both companies unanimously approved the deal, which, however, still has to meet the necessary regulatory approval. The purchase is expected to be finalised in H1 2015.
The acquisition will create “a global leader in the automotive supplier business”, with pro forma combined sales of EUR 30 bn and a workforce of 138,000. As part of the agreement, TRW is to remain an independent business unit.
Under the terms of the deal, the German group will pay about USD 13.5 bn for the manufacturer of safety technology, automation systems, airbags and systems for autonomous driving. The final price tag is about USD 2.5 bn higher than market insiders had initially expected. The boards of both companies unanimously approved the deal, which, however, still has to meet the necessary regulatory approval. The purchase is expected to be finalised in H1 2015.
The acquisition will create “a global leader in the automotive supplier business”, with pro forma combined sales of EUR 30 bn and a workforce of 138,000. As part of the agreement, TRW is to remain an independent business unit.
18.09.2014 Plasteurope.com [229309-0]
Published on 18.09.2014
German version of this article...