Continental Reportedly Hikes Siemens Bid

(Akron/Tire Review) News reports say that Continental AG has raised its offer for Siemens AG’s vehicle electronics unit. The bid for Siemens VDO was boosted from 10 billion euros to 11 billion euros, the reports say. It is believed, though, that Conti’s bid is still below that of TRW and Blackstone, which placed a joint bid of 12 billion euros.