UPDATE 3-Continental, Schaeffler agree minority deal

Newswire

(Recasts with analyst reaction and background) By Sylvia Westall FRANKFURT, Aug 21 (Reuters) - German car parts group Continental agreed unwanted suitor Schaeffler can buy up to half the company in return for a sweetened offer and other concessions, ending weeks of wrangling. In a deal announced by the two companies early on Thursday, family-owned Schaeffler will take a minority shareholding of up to 49.99 percent for a four-year period. Schaeffler agreed to raise its cash offer to ...

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