Schaeffler has said it now owns 48.32% of Continental after Continental investors had tendered their stock in response to its offer.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Schaeffler said 40.26 percent of the shares in Continental had been tendered in response to its 75 euro offer and were added to a stake of around 8% that it owned already.
Schaeffler had to give a series of pledges, including not to own more than 49.99 percent of Continental before 2012, to win Continental’s approval for its offer last month.
Once combined, the two companies will overtake Bosch as the world’s largest supplier of automotive components.
