Continentalsays wins 75.96 pct of Phoenix

Newswire

FRANKFURT, July 24 (Reuters) - German automotive supplier Continental has reached a 75.96-percent stake in smaller Hamburg-based rival Phoenix at the end of an extended takeover offer period, Continental said on Saturday. Continental said at the end of last month that it had achieved the 75 percent holding in Phoenix needed to make its 15-euros-a-share bid a success but German law provided for an additional mandatory two-week extension to the offer period. Continental said in a statement ...

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