ZF Friedrichshafen is set to receive conditional antitrust approval from the European Union for its proposed acquisition of TRW Automotive for US$13.5bn, people with knowledge of the matter said.
“It’s a conditional phase 1 approval,” a Reuters source said.
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The European Commission has set a deadline of 12 March for its decision, the news agency reported.
A ZF spokesman and Ricardo Cardoso, a commission spokesman, declined to comment.
TRW said: “TRW will only provide updates to the extent that the anticipated timing of the transaction may change but do not intend to provide interim updates for each step of the process.”
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