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Thursday, July 10, 2014

TRW receives takeover approach from German rival - source, (NYSE: TRW)

TRW Automotive Holdings Corp has received a takeover approach from German auto supplier ZF Friedrichshafen AG, a person familiar with the matter said on Thursday. Shares of TRW jumped 7 percent to a market capitalization of nearly $11 billion after Bloomberg News reported earlier on Thursday that the two companies are in early-stage talks following a preliminary takeover approach from the German company.

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 6.91% or $6.315/share to $97.72. 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 5433417.