ZF Friedrichshafen AG’s acquisition of TRW Automotive Holdings Corp., a transaction valued at $12.4 billion, was cleared by the Federal Trade Commission Tuesday.
The deal is expected to close by the end of the month, TRW said in a statement.
The FTC’s approval is subject to certain conditions, which ZF has agreed to comply with after the acquisition is complete. The conditions include the sale of TRW’s linkage and suspension business, which is already in progress. The business includes five manufacturing plants in Michigan, Canada, the 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, starting Tuesday and 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.
