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Monday, September 15, 2014

REFILE-Germany's ZF agrees $13.5 billion TRW buy to position for self-drive cars growth, (NYSE: TRW)

German car parts maker ZF Friedrichshafen agreed to purchase U.S.-based TRW Automotive Holdings Corp for $13.5 billion including debt, creating a major global supplier ready for an age of self-driving cars.The all-cash transaction will create a player with combined annual sales of more than $40 billion, more than doubling ZF's sales in two of the world's largest car markets: China and the United States.It will marry ZF, a major provider of steering systems and drivetrains, with a leading maker of automotive safety products such as brakes and air bags.ZF, which already helps carmakers develop hybrid-powered transmissions, had been on the lookout for a strategic partner after an analysis showed semi-autonomous driving functions and vehicle connectivity will develop into important business areas.

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 fell by 0.79% or $-0.82/share to $103.03. In the past year, the shares have traded as low as $68.72 and as high as $107.25. On average, 1695570 shares of TRW exchange hands on a given day and today's volume is recorded at 13858122.