- ZF, TRW confirm companies have held takeover talks
- ZF says no decision taken on whether to pursue deal
- ZF Wabco have developed automated braking system for trucks (adds details, background)
FRANKFURT, Feb 28 (Reuters) – Automotive supplier ZF Friedrichshafen on Thursday confirmed it has held takeover talks with U.S. rival WABCO as the unlisted German company seeks to overhaul its business for an era of self-driving trucks.
A takeover would mark ZF’s second attempt at clinching WABCO and comes after ZF failed to buy Sweden’s Haldex, another supplier which specialises in braking systems for trucks and trailers.
WABCO, which is headquartered in Brussels, Belgium but has its executive offices in Auburn Hills, Michigan, on Wednesday confirmed that it had been approached by ZF Friedrichshafen regarding a potential takeover.
The market for advanced driver assistance systems and autonomous vehicles is expected to grow from about $3 billion in 2015 to $96 billion in 2025 and $290 billion in 2035, according to Goldman Sachs.
Read more at reuters.com.