Vitesco shares seen rising on Schaeffler's tender offer

Schaeffler AG

09/10/2023 07:53

** Shares in Vitesco  VTSCn.DE  are seen up 18.2% in early
Frankfurt trade after Schaeffler  SHA_p.DE  said it decided on
Monday to launch a tender offer for the German EV components
maker
    ** The automotive supplier is offering 91 euros per Vitesco
share, 21% more than Friday's closing price, it said
    ** The tender offer is the first step of a planned
transaction that will lead to a merger of Vitesco into
Schaeffler, Schaeffler said

 (Reporting by Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))