Germany's ZF Friedrichshafen said it was in early-stage takeover talks with U.S. auto parts supplier TRW Automotive Holdings Corp.TRW confirmed that it had received a takeover approach, but did not name the suitor.The companies did not disclose any financial details of the deal, but a Bloomberg report said ZF valued TRW at $11 billion to $12 billion.(bloom.bg/U5p7CG)ZF's valuation for the $10-billion U.S. supplier is low, an analyst from Tigress Financial Partners said, adding that Magna International Inc could come up with a counter offer.
Magna International Inc. (Magna) is a diversified global automotive supplier. Shares of MGA traded higher by 0.24% or $0.26/share to $109.88. In the past year, the shares have traded as low as $72.56 and as high as $110.59. On average, 502306 shares of MGA exchange hands on a given day and today's volume is recorded at 615826.
TRW Automotive Holdings Corp. (TRW Automotive) is a supplier of automotive systems, modules and components to global automotive original equipment manufacturers (OEMs) and related aftermarkets. Shares of TRW traded higher by 8.22% or $7.51/share to $98.91. In the past year, the shares have traded as low as $66.36 and as high as $91.94. On average, 846006 shares of TRW exchange hands on a given day and today's volume is recorded at 11962933.
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