ZF agrees terms to acquire WABCO
By Jim Gibbins - 1st April 2019
Germany / Belgium - ZF Friedrichshafen AG of Friedrichshafen, Germany has entered into a definitive agreement to acquire motion control systems specialist to the CV industry, WABCO Holdings Inc of Brussels, Belgium, for around USD7bn, the equivalent of USD136.50 a share. The proposed acquisition has been approved by ZF’s Management Board and Supervisory Board and the Board of Directors at WABCO and now subject to the competition authorities.
ZF, together with WABCO plans to form a globally integrated mobility systems company for commercial vehicles, creating added value for ZF’s commercial vehicle customers. The combined company would have sales of approximately EUR40bn. (ZF in 2017 reported sales of some EUR36.44bn (2016: EUR35.16bn)).
