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Monday, September 15, 2014

TRW Automotive to be acquired by Germany's ZF for about $13.5 bln, (NYSE: TRW)

U.S. auto parts maker TRW Automotive Holdings Corp said it would be bought by German peer ZF Friedrichshafen for $13.5 billion, including debt, creating a global automotive supply powerhouse. ZF's offer of $105.60 per share in cash represents a premium of 1.7 percent to TRW's closing price of $103.85 on Friday.

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 1.2% or $-1.25/share to $102.60. 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 5210499.