U.S. Clears Plan for ZF-TRW Merger

The U.S. Federal Trade Commission has approved ZV Friedrichshafen AG's €11 billion ($12.4 billion) acquisition of TRW Automotive Holdings Corp.

TRW cleared the agency's only objection by agreeing last month to sell its suspension and tie rod business to Japan's THK Co. for $400 million (€358 million). The unit makes ball joints, control arms and tie rods.

The merger is expected to propel ZF's annual revenue into second place among auto suppliers behind Robert Bosch and ahead of Denso and Continental.