Pros
The only pros to working here so far—almost two years in—is that they have yet to take away our full autonomy; I see it coming, though.
Cons
ZF purchased my group in order to acquire our lucrative and prestigious contracts with a major automotive OEM for a system on their flagship vehicle. They don't care about any of the people that helped secure those contracts, however, and have been giving us worse and worse take-it-or-get-out options for our careers ever since. We've hemorrhaged something like half of our people since the acquisition, and most of them our best people. I doubt that we'll be able to retain those contracts at renewal. The USA half of the company appears to only exist to fulfil the "% made here" stipulations of selling products in the USA. The foreign branches actually run the company and don't particularly care what we have to say. No group knows what any other group is doing.