Brief: Vitesco Technologies Enters Into A Business Combination Agreement With Schaeffler

Vitesco Technologies AG

27/11/2023 07:05

Nov 27 (Reuters) - VITESCO TECHNOLOGIES GROUP AG
 VTSCn.DE :
    * : CONCLUSION OF A BUSINESS COMBINATION AGREEMENT WITH
SCHAEFFLER
AG
    * INCREASE OF OFFER PRICE IN CONTEXT OF TENDER OFFER OF
SCHAEFFLER
AG
    * TODAY ENTERED INTO A BUSINESS COMBINATION AGREEMENT WITH
SCHAEFFLER AG, HEADQUARTERED IN HERZOGENAURACH, REGARDING
COMBINATION OF TWO COMPANIES ENVISAGED BY SCHAEFFLER
    * IN CONNECTION WITH CONCLUSION OF BUSINESS COMBINATION
AGREEMENT,
SCHAEFFLER ANNOUNCED TO VITESCO TECHNOLOGIES THAT IT WILL
INCREASE CASH CONSIDERATION OFFERED IN TENDER OFFER FROM EUR
91.00 TO EUR 94.00 PER SHARE
    * FOLLOWING COMPLETION OF TENDER OFFER, SCHAEFFLER INTENDS
TO
MERGE VITESCO TECHNOLOGIES AS TRANSFERRING ENTITY INTO
SCHAEFFLER AS ACQUIRING ENTITY IN ORDER TO CREATE A COMBINED
COMPANY

Source text for Eikon:  ID:nEQ5VVT28a 
Further company coverage:  VTSCn.DE 

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