July 10, 2014 / 4:25 PM / 3 years ago

TRW receives takeover approach from German rival - source

NEW YORK, July 10 (Reuters) - TRW Automotive Holdings Corp has received a takeover approach from German auto supplier ZF Friedrichshafen AG, a person familiar with the matter said on Thursday.

Shares of TRW jumped 7 percent to a market capitalization of nearly $11 billion after Bloomberg News reported earlier on Thursday that the two companies are in early-stage talks following a preliminary buyout approach from the German company.

The person asked not to be named because the matter is not public. Representatives for TRW and ZF Friedrichshafen AG could not be immediately reached for comment. (Reporting by Soyoung Kim in New York; Editing by James Dalgleish)

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