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Continental facing takeover by Shaeffler Group

Sarah Carnell, 16 July 2008 09:04

Tyre manufacturer Continental is facing a takeover by private German company Shaeffler. View tyres for sale here Shaeffler is the world’s biggest maker of ball-bearings and has reportedly offered €10 billion (£7.9 billion) for the takeover. Continental has been valued at €10.9 billion (£8.6 billion) and the company’s share price has halved in recent weeks as rising costs of raw ...

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