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Company Statement: Continental rejects takeover offer by the Schaeffler Group

( July 16, 2008, 11:29 GMT | Official Statement) -- ****************************************Hanover, July 16, 2008 - On Tuesday, Continental AG was informed by the Schaeffler Group about their decision to make a takeover offer for the company for €69.37 per share in cash. The Executive Board of Continental rejects the offer. The offer is highly opportunistic, does not come close to the true value of Continental, does not create trust and lacks a convincing strategic rationale....

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