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Thursday, November 20, 2014

TRW shareholders approve $12.4 billion takeover by ZF, (NYSE: F)

Shareholders in auto supplier TRW Automotive approved a $12.4 billion takeover offer by Germany's ZF Friedrichshafen, the companies said on Thursday, paving the way for a new global automotive supply powerhouse to rival Robert Bosch.Shareholders representing 79 percent of TRW's equity capital voted in favour of the deal, ZF and TRW said in a statement.In September, ZF, which is controlled by an unlisted foundation and helps carmakers develop hybrid-powered drive trains, made a $105.60 in cash offer for each TRW share.TRW, based in Livonia, Michigan, is a global maker of air bags, electronics, and braking and steering equipment for cars. It sells to nearly all major automakers, including Ford Motor Co and General Motors Co.

Ford Motor Company (Ford) is a producer of automobiles. Shares of F fell by 0.39% or $-0.06/share to $15.44. In the past year, the shares have traded as low as $13.26 and as high as $18.12. On average, 32939300 shares of F exchange hands on a given day and today's volume is recorded at 22633528.