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WABCO Holdings to be acquired by ZF Friedrichshafen AG for $7 billion

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WABCO India announced that its ultimate parent company, WABCO Holdings will be acquired by ZF Friedrichshafen AG (''ZF"), a privately held global technology company and systems supplier for passenger cars, commercial vehicles and industrial technology.

Under the agreement, ZF will acquire all outstanding shares of WABCO for $136.50 per share in an all cash transaction for an equity va lue of over $7 billion.

The proposed merger remains subject to further customary closing conditions and regulatory approvals.

ZF and WABCO continue to expect to close the transaction in early 2020. This merger will bring together two global technology leaders serving OEMs and fleets in the automotive and commercial vehicle industry, combining WASCO's capabilities in commercial vehicle safety and efficiency, including technologies involved in vehicle dynamics control, active air suspension systems, and fleet management systems with ZF's leading position in mobility technologies for cars and commercial vehicles.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 28 2019. 09:49 IST
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