ZF features U.S., EU approval for $7 billion Wabco deal
BRUSSELS — German auto provider ZF Friedrichshafen secured on Thursday unconditional U.S. and EU antitrust approval for its $7 billion bid for rival Wabco geared toward reinforcing its experience in autonomous-driving applied sciences.
U.S. regulators, as a situation for approval, required the businesses to sell Wabco’s steering components business, R.H. Sheppard Co. Inc., as a result of ZF and Wabco are the one North American suppliers of steering gears for big industrial autos. Wabco had acquired Sheppard in 2017.
The proposed merger, introduced in March, is geared toward serving to ZF bolster its experience in autonomous-driving applied sciences.
ZF and Wabco already collectively develop a so-called Evasive Manoeuvre Assist system, which mixes Wabco’s braking, stability and automobile dynamics management methods for vans with ZF’s energetic steering expertise.
ZF ranks No. 5 on the Automotive Information checklist of the highest 100 international suppliers with worldwide gross sales to automakers of $36.9 billion in 2018.