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EU: German car parts maker’s $13.5 billion bid for US company approved

By  |  March 4, 2015

German car parts maker ZF Friedrichshafen is set to win conditional European Union antitrust approval for its proposed $13.5 billion takeover of US peer TRW Automotive Holdings Reuters reported Wednesday.

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    ZF, which is seeking to bulk up and expand into the potentially lucrative self-driving car market, offered concessions to the European Commission last month in a bid to allay regulatory concerns.

    “It’s a conditional phase 1 approval,” said one of the sources, referring to the Commission’s preliminary review of the deal.

    Neither the EU competition authority nor the companies disclosed details of the concessions.

     

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