UPDATE 2-Continental bidder wins unwanted majority stake

Newswire

(Recasts, adds comment from Schaeffler, share prices, background) By Michael Shields FRANKFURT, Sept 22 (Reuters) - Privately-held German ball bearings maker Schaeffler won an unwanted and potentially costly majority stake in autoparts maker Continental AG on Monday as investors snapped up an offer that was designed to fail. Majority control for Schaeffler would cost Continental tax benefits worth hundreds of millions of euros. It would also trigger an expensive refinancing of ...

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