WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles.

[7] Previously headquartered in Bern, Switzerland (having moved from Brussels, Belgium in February 2019),[8] WABCO employed more than 11000 people in 34 countries worldwide.

The following day, a trade publication reported that WABCO had confirmed that it had "been approached" by German auto parts maker ZF Friedrichshafen and was "engaged in preliminary discussions concerning a potential transaction.”[11] On March 28, 2019, ZF Friedrichshafen announced plans to acquire WABCO for $136.50 per share ($7 billion) in an all-cash transaction.

[12] The offer represented a 13% premium above WABCO's February 26 stock price, according to The Wall Street Journal.

[14] In January 2020, the U.S. Department of Justice raised concerns about the market power that the combined entity would have if the acquisition was allowed to proceed.

In a news release, a Justice Department spokesman said: “The merger, as originally structured, would have given ZF a monopoly over an essential steering systems component used in trucks and buses that move products and people across the United States.” WABCO was required to divest the steering systems business in order to proceed with the transaction.