Date: 2013-08-01

Schaeffler Says Continental Merger Still on

German bearings maker Schaeffler said it was still looking to merge with auto parts supplier Continental AG (CONG.DE), denying a magazine report that it had proposed a 12-month hiatus.

"There is no change to our aim to find a solution by July 31," a Schaeffler spokesman said on Tuesday, when asked about a report by manager-magazin that cited sources as saying Schaeffler aimed to postpone the planned merger with Continental.

Schaeffler suggested at a meeting of the two companies' top managers that the two should deal with their problems separately for now, the online version of the magazine added.

Continental declined to comment.

Last July, ball-bearing maker Schaeffler launched a hostile $18 billion bid to buy Continental but ended up collecting more shares than it could afford, lumbering it with a debt millstone as car sales collapsed.

Previous: NSK's HP Roller Bearings Increase Operating Speed
Next: Rexnord 6000 Series SHURLOCK Adapter Mounted Bearings

Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
7200DF KOYO	10	30	18
7000CDF KOYO	10	26	16

【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.