Nora Naughton, Crain News Service
WASHINGTON, D.C. (May 6, 2015) — The Federal Trade Commission (FTC) has cleared ZF Friedrichshafen A.G.'s acquisition of TRW Automotive Holdings Corp., a transaction valued at $12.4 billion, subject to certain conditions, including the sale of TRW's linkage and suspension business, which is already in progress.
The deal is expected to close by the end of the month, TRW said in a statement.
ZF has agreed to comply with the FTC's conditions after the acquisition is complete. TRW's linkage and suspension business includes five plants, in the U.S., Canada, Czech Republic and Germany, and leased space in a lab in Germany.
ZF's purchase of TRW is still subject to public comment for 30 days, ending on June 5. After the comment period ends, the FTC will decide whether to make the proposed consent order final.
With FTC clearance, the acquisition is now subject to antitrust approval in Mexico and customary closing conditions.