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Schaeffler – to submit tender offer for Vitesco Technologies

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By Reuters | Updated: 9 October 2023

Oct 9 (Reuters) – Schaeffler AG (SHA_p.DE) is to launch a tender offer to all shareholders of Vitesco Technologies (VTSCn.DE), the German EV components maker said on Monday.

The company is offering to acquire all no-par value registered shares of the company, and intends to offer a cash consideration in the amount of 91 euros ($96.02) per share, the company said.

It added that the offer will not be subject to a minimum acceptance rate.

($1 = 0.9477 euros)

© Thomson Reuters 2023