ZF Board Supports TRW Bid

ZF Friedrichshafen AG's supervisory board has approved management's plan to negotiate a purchase of U.S. supplier TRW Automotive Holdings Corp.

Sources tell Bloomberg News that ZF, which opened exploratory talks with TRW hopes to reach a deal by mid-August.

Combining the two suppliers would create a company with nearly €30 billion in annual sales, making it second in revenue only to Robert Bosch GmbH among auto parts producers.