Continental AG rejects a takeover bid worth €11.2 billion ($17.9 billion) from smaller rival Schaeffler KG, saying the amount does not reflect the company’s full value. Continental says it is willing to support family-held Schaeffler taking up to 20% of the company, but Schaeffler insists on a controlling stake. Continental CEO Manfred Wennemer reportedly is mounting a defense against Schaeffler and has warned the takeover could ultimately dismantle Continental. But a Schaeffler spokesman ...
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