LIVONIA, Mich. (AP) - Auto parts supplier TRW Automotive says it has received a preliminary acquisition offer.
LIVONIA, Mich. (AP) — Auto parts supplier TRW Automotive says it has received a preliminary acquisition offer.
The announcement comes as Bloomberg said that Germany's ZF Friedrichshafen AG was in early-stage talks with TRW Automotive about a possible deal, according to unnamed sources with knowledge of the matter.
The Livonia, Michigan-based company said Thursday that it is evaluating the non-binding proposal and also looking at other strategic options that may help boost shareholder value. It does not have a set time to complete the review.
TRW Automotive Holdings Corp. said that it will continue to use its existing business plan during the review.
The company's stock is up 8.2 percent to $98.88 in afternoon trading.