Continental admits to talking with Schaeffler

Order Reprints

Continental AG has confirmed that it has held a brief conversation "about a possible engagement" by the Schaeffler Group, a German ball bearing company.

The conversation took place at the end of last week, according to Continental officials in a public statement issued on July 14.

According to a wire report, Schaeffler launched an offer earlier today, July 15, for Continental. The report said the firm is not necessarily seeking a majority stake.

"As soon as Schaeffler Group has substantiated its plans, the management board of Continental AG will evaluate these and communicate its views in due course," say Continental officials.

You must login or register in order to post a comment.