Shareholders of the Michigan-based TRW Automotive approved a $13.5 billion takeover by German automotive parts manufacturer ZF Friedrichshafen. TRW currently operates several plants in Canada in communities such as Midland, St. Catharines, Tillsonburg, and Windsor. ZF currently has no Canadian production facilities following the closure of their St. Thomas plant in 2009. The takeover is expected to help ZF compete with larger integrated Tier 1 suppliers Bosch and Magna. The transaction is expected to be completed in early 2015. For more information click here.