TRW Automotive Gets Preliminary Acquisition Offer
LIVONIA, Mich. (AP) -- Auto parts supplier TRW Automotive said Thursday that it has received a preliminary acquisition offer.
Livonia, Michigan-based TRW said that it is evaluating the non-binding proposal. It did not name the bidder. TRW also said it is looking at other strategic options that may help boost shareholder value.
TRW Automotive Holdings Corp. said that it will continue to use its existing business plan during its review, which does not have a set timetable.
The company, through its subsidiaries, operates in 24 countries. Its products include braking and steering systems, seat belts and air bags, electronics and engine parts as well as replacement parts.
TRW's 2013 sales were $17.4 billion.
The company's stock rose $7.74, or 8.5 percent, to $99.14 in afternoon trading.