TRW Automotive Shares Dip Lower On Takeout Rumor
Earlier on Wednesday, Reuters published a report citing sources familiar with the matter as saying that German based ZF Friedrichshafen AG is in advanced talks to acquire U.S. based TRW Automotive Holdings (NYSE: TRW).
Reuters' sources say the deal would be worth nearly $12 billion and create a "automotive supply powerhouse" and, at that price, would represent one of the most expensive takeovers in the auto parts sectors.
Finally, Reuters' sources said the companies are looking to reach an agreement within a few weeks, however, they say there is no guarantee a deal will be made.
Following the release of the report, TRW shares dipped ~2.4 percent to $101.86 before getting any relief.
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