Auto part makers getting no lift from TRW deal

NEW YORK (Reuters) - Auto part makers were trading lower on Monday, as the deal to acquire TRW Automotive Holdings Corp by German car parts maker ZF Friedrichshafen [ZFF.UL] failed to ignite any excitement in the sector.

The German company agreed to buy TRW for $13.5 billion, including debt, or $105.60 per share, which would create a company with combined annual sales of more than $40 billion.

Shares of TRW were falling slightly, however, down 0.8 percent to $103.05, 2.4 percent below the offer price and well below the StarMine intrinsic valuation of $122. The Dow Jones auto parts index was trading 1.1 percent lower, with all but one of the components in negative territory

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)