LIVONIA – TRW Automotive Holdings Corp., a $17.4 billion auto supplier, confirmed Thursday that it received a preliminary, non-binding proposal to acquire the company. But TRW did not identify the bidder.
TRW, in a press release, said it is evaluating the proposal as well as other strategic alternatives, which may enhance stockholder value. TRW will continue to execute its existing business plan while it conducts this analysis, the company said.
?TRW has not made a decision to pursue any specific strategic transaction or any other strategic alternative, and there is no set timetable for the strategic review process,? the company said in a press release. ?There can be no assurance that the process described above will result in the consummation of any transaction or any changes to the Company’s current business plan. The Company undertakes no obligation to provide further updates and does not intend to comment further regarding the evaluation of any offers or strategic alternatives until such time as its Board of Directors has determined the outcome of the process or otherwise has deemed that disclosure is appropriate.
TRW has retained Goldman, Sachs & Co. as its financial advisor.
