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Stock Market & Financial Investment News

News Breaks
February 14, 2014
07:01 EDTTRWTRW Automotive reports Q4 adjusted EPS $1.84, consensus $1.64
Reports Q4 revenue $4.50B, consensus $4.22B
News For TRW From The Last 14 Days
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November 26, 2014
16:16 EDTTRWTRW Automotive transfers about $4B of pension liabilities to L&G
TRW Automotive disclosed in a filing that on November 24 the trustee of the TRW Pension Scheme in the U.K., with respect to which a wholly-owned subsidiary of TRW Automotive Holdings is the principal employer, entered into a group annuity contract with Legal & General Assurance Society Limited in the U.K., a subsidiary of Legal & General Group, that requires L&G to pay and administer future annuity payments to certain of the U.K. Scheme’s members. Under the agreement, approximately $4B of pension liabilities under the U.K. Scheme were transferred to L&G in a partial buyout that was funded predominantly with U.K. Scheme assets, although a subsidiary of the company will make additional contributions as part of the company’s overall abatement plans described below. This transaction is part of the company’s overall plan to permanently abate a significant portion of its pension liabilities in the U.K., as well as certain of its pension liabilities in the U.S. and Canada, as previously outlined in the company’s Quarterly Report on Form 10-Q for the quarter ended September 26. The company expects these abatement actions to be substantially complete by December 31, 2014. In connection with the abatement actions, the company expects certain of its subsidiaries to make additional pension contributions in the fourth quarter of approximately $225M to $250M. The company further anticipates accounting for the abatement actions as a settlement of pension obligations under U.S. generally accepted accounting principles, and to incur pre-tax curtailment charges in the fourth quarter in the range of $875M to $925M.
November 20, 2014
06:04 EDTTRWTRW Automotive stockholders approve acquisition by ZF Friedrichshafen
TRW Automotive's stockholders approved the acquisition of TRW by ZF Friedrichshafen AG. At a special meeting of TRW's stockholders held yesterday, 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. Under the terms of the merger agreement, ZF will acquire TRW in an all-cash transaction valued at approximately $12.4B based on equity value. TRW stockholders will receive $105.60 in cash for each share of TRW stock. ZF and TRW continue to expect the transaction to be completed in 1H15.

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