ZF Friedrichshafen AG, a leading global technology group and supplier of mobility systems for passenger cars, commercial vehicles and industrial technology, has announced that it has entered into a definitive agreement to acquire WABCO for $136.50 per share. The planned acquisition has been approved by ZF’s management board and supervisory board and WABCO’s board of directors. Together, ZF and WABCO will form a leading global integrated mobility systems provider for commercial vehicles, creating added value for ZF’s commercial vehicle customers. The combined company will have sales of approximately €40 billion.
Effective today, Dr Jörg Stratmann is chief executive officer of automotive supplier Mahle. He succeeds Wolf-Henning Scheider, who today becomes chief executive officer of automotive supplier ZF Friedrichshafen. Scheider takes the place of Dr Konstantin Sauer, who’d held the position on a temporary basis since Dr Stefan Sommer stepped down with immediate effect in December 2017.