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Thursday, July 10, 2014

TRW Automotive confirms getting takeover offer, (NYSE: TRW)

Auto parts supplier TRW Automotive Holdings Corp said it had received a preliminary takeover proposal and was in the process of evaluating the offer. Bloomberg reported earlier that TRW had received a takeover approach from German auto supplier ZF Friedrichshafen AG , citing a person familiar with the matter.TRW Automotive did not name any buyer in its statement.The company said it had hired Goldman Sachs & Co as its financial adviser.

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 8.19% or $7.49/share to $98.89. 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 7058242.