CORRECTED - UPDATE 2-Schaeffler sets hostile bid for Continental

Newswire

(Corrects ranking in second paragraph) (Adds details, background, share price) By John O'Donnell FRANKFURT, July 30 (Reuters) - German ball-bearing maker Schaeffler has launched a hostile $18 billion bid to buy tyre-to-brakes firm Continental as the dispute over its takeover tactics continues. If the takeover happens, it would be the biggest so far this year in Europe and would put the combined group third behind Robert Bosch [ROBG.UL] and Japan's Denso among the world's top suppliers ...

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