BERLIN: Germany's car parts maker ZF Friedrichshafen is to buy US company TRW Automotive to create a new sector giant, the US firm said on Monday, 16 September, in a deal worth nearly 10bn euros.
ZF, Germany's third biggest auto parts maker, will pay $105.60 per share, TRW said in a statement, adding the deal would create "a global leader in the automotive supplier business with pro forma combined sales of approximately 30 billion euros ($41 billion)".
ZF said the deal was worth $12.4bn, while an AFP calculation of the number of TRW shares put it at $11.7bn.
Source: AFP