Schaeffler Group launches formal bid for Continental AG

ERJ staff report (DS)

Herzogenaurach, Germany — Schaeffler has formally offered to buy all shares in Continental AG at a cash price of 70.12 EUR per share.

Shareholders of Continental AG can thus tender their shares for purchase by the Schaeffler Group starting today.

Schaeffler Group said it is seeking to acquire a strategic shareholding of more than 30 percent in Continental AG. This strategic shareholding is necessary to achieve a stable shareholder structure in Continental AG, to enable implementation of the Schaeffler Group’s objectives and, thus,…

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