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.