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Sep 15, 2014 9:47 AM

ZF buying TRW Automotive for about $11.74B

The Associated Press

LIVONIA, Mich. (AP) ZF Friedrichshafen AG is buying TRW Automotive for approximately $11.74 billion.

The German company will pay $105.60 per TRW share, a 2 percent premium to its Friday closing price of $103.85.

The companies put the transaction's value at about $13.5 billion.

TRW Automotive Holdings Corp., based in Livonia, Michigan, will be a separate division within ZF.

The deal will create an automotive supplier business with combined sales of approximately $41 billion and 138,000 employees.

The transaction is targeted to close in the first half of 2015. It still needs approval from TRW shareholders.


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