FRANKFURT German industrial filter maker Mann + Hummel has agreed to buy U.S. peer Affinia (AFN.N) to boost its annual sales by $1 billion, or by more than a third, and gain access to the U.S. market for heavy-duty and hydraulic filters.
This is the third deal within a year in which a U.S. auto supplier is bought by a German counterpart, following ZF's takeover of TRW [TRWTA.UL] and Mahle's acquisition of Delphi's [DCLC.UL] air-conditioning unit.
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