The Department of Justice announced today that it is requiring ZF Friedrichshafen AG (ZF) and WABCO Holdings Inc. (WABCO) to divest WABCO’s North American steering components business, R.H. Sheppard Co. Inc., as well as other related WABCO assets, in order for ZF to proceed with its proposed acquisition of WABCO. Without the divestiture, the proposed acquisition would eliminate competition between the only two suppliers of steering gears used on large commercial vehicles in North America, the department’s lawsuit alleges.
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