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Siemens Says Continental AG Bid is Low

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(Akron/Tire Review) According to European news reports, Gerhard Cromme, supervisory board chairman of Siemens, said Continental AG’s $13.4 billion bid for Siemens VDO, the company’s automotive electronics unit, is not high enough.

Various sources say that TRW Automotive Holdings Corp. has also made an indicative bid and that private-equity firms are also interested.

Related news:

  1. Dr Karl-Thomas Neumann to be proposed to Conti Supervisory Board
  2. Communications at Continental Automotive Systems
  3. Siemens Selling VDO Unit to Conti
  4. Conti Q3 Growth Below Predictions
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