Continental AG says Phoenix deal in acute danger

Newswire

FRANKFURT, June 28 (Reuters) - German automotive supplier Continental AG's planned 277 million euro ($337 million) takeover of smaller German rival Phoenix is in danger of collapsing, Continental said on Monday. "There isn't a sufficient acceptance yet," said a company spokesman, declining to give a precise figure. "The deal is still in acute danger." The deadline for Phoenix investors to tender their stock at 15 euros per share will expire late on Monday. On Saturday, Continental said ...

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