UPDATE 1-Conti bids 227 mln euros for auto supplier Phoenix


(Adds more details, background) FRANKFURT, March 29 (Reuters) - Germany's Continental AG has launched a 227 million-euro bid ($277 million) for rubber and plastics product maker Phoenix , the tyres and auto parts company said on Monday. Continental said in a statement it already had the support of Phoenix's main shareholders -- Daun & Cie and state bank WestLB [WDLG.UL] -- assuring it of 37 percent of the 15.16 million shares in issue. The 15 euro-per-share bid, which offers a 15 ...

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