ZF Friedrichshafen AG (“ZF”) and TRW Automotive Holdings Corp. (NYSE: TRW) announced that they welcomed the decision by the stockholders of TRW to approve the acquisition of TRW by ZF. At a special meeting of TRW’s stockholders, stockholders representing 79% of TRW’s shares outstanding voted in favor of adopting the proposed merger agreement. Overall, 81% of TRW’s stockholders participated in the vote. “The approval is a milestone in the acquisition process of TRW,” said Stefan Sommer, Chief Executive Officer of ZF. “We are very glad that the TRW stockholders have supported our plans with such a clear majority. This adds to the positive feedback we have received from customers and employees of both companies.” John C. Plant, Chairman and CEO of TRW, said: “We are pleased that the TRW stockholders have approved the transaction, which provides significant benefits for our stockholders who will receive full and certain value for their shares, as well as for our employees, customers and communities, all of which will reap the benefits of being part of larger, more diversified organization that is well positioned to serve the automotive industry.”(…)
via Fastener World Inc. (Fastener Magazine) – Overseas Sales Net.