Rumor: ZF Bid For TRW Automotive Sweetened To $13 Billion

TRW Automotive TRW shares jumped Thursday on a report that a suitor may sweeten its bid by around 13 percent.

TRW confirmed a week ago that it received a preliminary bid for an undisclosed amount from a company it didn't name.

The suitor, widely reported as German auto supplier ZF Friedrichshafen AG, has reportedly just obtained financing for a bid of $13 billion, according to Bloomberg news service. Previously the bid was reported at $11 billion to $13 billion.

TRW said last week it was evaluating the bid "as well as other strategic alternatives."

Bloomberg's unnamed sources said a deal could be signed in three to four weeks and ZF will discuss the bid with employees Friday.

ZF is said to be working with Citigroup, Morgan Stanley and several European banks.

TRW traded recently at $103.65, up 2.42 percent.