| Schaeffler will acquire a mainland auto parts giant |
Well-known auto parts and tires German mainland (Continental) 821 that will accept large bearing manufacturers Germany Schaeffler Group (Schaeffler Group) acquisition. The two companies have invested four years of control in less than 50%, and other conditions of the acquisition agreement. After the acquisition, Germany Schaeffler will be second only to Japan in auto parts and electrical equipment manufacturers such as Bosch of Germany and top. Under the agreement, in 2012 before Schaeffler of the mainland's highest ratio of 49.99 percent funded. Will be September 16 before the TOB (stock tender offer) to 75 euros per share to buy. The two companies also do not run counter to the wishes of the mainland companies under the structure of the whole business of the agreement. Since 2014 can not be lifted until the agreement is expected to mainland company is still able to continue to implement cooperation with Japan's Yokohama Rubber, such as the original business strategy. |
