TRW has reportedly received a preliminary takeover approach from Germany’s ZF Friedrichshafen AG.
Bloomberg reported that TRW has allowed ZF to conduct some due diligence , people with knowledge of the matter said, in what could be the largest auto-parts takeover in seven years.
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TRW has allowed ZF to conduct some due diligence, the Bloomberg report said, citing anonymous sources familiar with the matter.
The report also said that talks are at an early stage and may not lead to a deal, according to the sources, and any agreement could be a month away.
Bloomberg noted that if a deal happens, it would be ZF’s biggest acquisition and would enhance its global scale and position it in high-growth safety technology areas.
TRW and ZF could not immediately be reached for comment, but TRW issued a statement confirming that it has received a preliminary and non-binding proposal to acquire the business.
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By GlobalDataBelow analysis is extracted from just-auto’s research platform QUBE
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