Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, September 15, 2014

US STOCKS-Auto part makers getting no lift from TRW deal, (NYSE: TRW)

Auto part makers were trading lower on Monday, as the deal to acquire TRW Automotive Holdings Corp by German car parts maker ZF Friedrichshafen failed to ignite any excitement in the sector. The German company agreed to purchase TRW for $13.5 billion, including debt, or $105.60 per share, which would create a company with combined annual sales of more than $40 billion.Shares of TRW were falling slightly, however, down 0.8 percent to $103.05, 2.4 percent below the offer price and well below the StarMine intrinsic valuation of $122. The Dow Jones auto parts index was trading 1.1 percent lower, with all but one of the components in negative territory.Index snapshot at 15:39 EDT (1939 GMT):* S&P 500 was falling 0.92 points, or 0.05 percent.

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 0.78% or $-0.81/share to $103.04. 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 17250984.