UPDATE 2-Continental AG, Schaeffler enter agreement

Newswire

(Adds deal conditions, background) By Sylvia Westall FRANKFURT, Aug 21 (Reuters) - Ball bearings maker Schaeffler has agreed to limit itself to a minority shareholding in German car parts maker Continental AG , ending a hostile takeover battle for the company, Continental said on Thursday. Schaeffler will be limited to a maximum stake of 49.99 percent for a four-year period after it raised its offer to 75 euros per share, Continental said in a statement. Schaeffler offered 70.12 ...

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