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According to Reuters, WABCO Holdings (WBC) approached by ZF Friedrichshafen AG

  • February 28, 2019

POTENTIAL DEAL DETAILS

StockWABCO Holdings Inc.SymbolWBC
Date Announced02/27/2019Source Reuters
TypeUnsolicited BidAcquiring Company/Person ZF Friedrichshafen AG
Date of Confirmation: 03/28/2019Price at Confirmation: $146.01
Potential Profit: 11.89%Annualized Profit: 149.70%

German car parts maker ZF Friedrichshafen is considering a takeover of U.S. peer Wabco (WBC), daily Handelsblatt reported.

Update(s):

February 27, 2019: While it is the long-standing policy of WABCO Holdings Inc. (WBC) not to comment on rumors in the marketplace or media reports, in response to market speculation and noting recent appreciation in its stock price, the Company confirmed today that it has been approached by ZF Friedrichshafen AG and has engaged in preliminary discussions concerning a potential transaction.

March 28, 2019: WABCO Holdings Inc. (WBC), a leading global supplier of technologies and services that improve the safety, efficiency, and connectivity of commercial vehicles, today announced that it has entered into a definitive merger agreement with ZF Friedrichshafen AG, a privately held global leader in driveline and chassis technologies.

 

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