TRW Automotive says it has received preliminary acquisition offer
TRW said it will continue to use existing business plan during strategic review, which doesn't have timetable
LIVONIA, Mich.—Auto parts supplier TRW Automotive Holdings Corp. said it has received a preliminary acquisition offer.
Livonia, Mich.-based TRW said it is evaluating the non-binding proposal.
It did not name the bidder.
The firm also said it is looking at other strategic options that may help boost shareholder value.
The company said it will continue to use its existing business plan during its review, which does not have a set timetable.
The company, through its subsidiaries, operates in 24 countries.
TRW has seven facilities in Canada, all located in southwestern Ontario.
Its products include braking and steering systems, seat belts and air bags, electronics and engine parts as well as replacement parts.
Its 2013 sales were US$17.4 billion.