TRW's proposed purchase of LucasVarity PLC
Sale price: $7 billion
Terms: All cash
Expected closing date: Second quarter 1999
Possible hitch: Counteroffer from Federal-Mogul Corp.
The combination: World's eighth-largest (TRW) and 15th-largest (LucasVarity) original equipment suppliers into No. 5.
Coveted product combination: TRW's steering-suspension systems and LucasVarity brakes into a single system
Key products - TRW: Occupant restraint systems; power rack and pinion steering; electronics; engine valves and fastening systems
Key products - LucasVarity: Braking systems, diesel systems, fuel injection and electrical and electronic systems
Key player - TRW: CEO Joseph Gorman, 61, would lead combined companies
Key player - LucasVarity: CEO Victor Rice, 57, would become vice chairman of TRW and lead combined automotive operations
Automotive employees - TRW: 50,000
Automotive employees - LucasVarity: 43,000