ZF all set to acquire WABCO and both the companies have entered into a definitive merger agreement.
WABCO is one of the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles. ZF is a driveline and chassis technology company having specialization also in active and passive safety technology.
The merger will bring together two global technology leaders serving OEMs and fleets in the automotive and commercial vehicle industry together forming a formidable force together.
The companies together have a history of successful collaborations including prototyping industry-first technologies, and both entities believe that the strategic fit between two companies is compelling.
ZF will acquire all outstanding shares for $136.50 per share in an all-cash transaction for an equity value of over $7 billion. The transaction, which has been unanimously approved by WABCO’s Board of Directors, is expected to close in early 2020.
Source: Press Release