Continental facing takeover prospect

Posted on 16 Jul 2008 by The Manufacturer

Tyre firm Continental has received an 11.3 billion euro (8.9 billion) takeover offer from automotive and aerospace component manufacturer Schaeffler.

Schaeffler made the offer on the premise that the two firms would make a “good combination”.

Continental is now examining the details of the bid, including the amount of control Schaeffler is requesting and the effect a takeover may have on jobs at the firm.