Schaeffler – Conti deal completes: contract terms come into effect

ERJ staff report (DS)

Hanover, Germany — The takeover offer of Schaeffler KG for Continental AG has been completed: According to Schaeffler KG, it paid the offer price of €75.00 for the tendered Con­tinental shares today (8 Jan.), as agreed with Continental. The investment agreement safeguarding the interests of Con­tinental AG and its shareholders, employees and customers has now come into full effect. The Euro­pean Commission gave clearance for Schaeffler to go ahead with plans to buy into Conti­nental AG on December 19, 2008.

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