Schaeffler/Conti Saga – ‘Over By Christmas’?

25th November 2008 | 0 Comments
 

The announcement had a phenomenal response at the stock market where, following publication of Schaeffler’s statement on EU approval, tendered shares in Continental grew by as much as 50 per cent before levelling off at around 36 per cent up, in response. Why? Because up to this point investors had become decidedly nervous about Schaeffler’s ability to complete the deal and the EU announcement was seen as a sign that the deal as a whole is on track. Due to the well-documented contraction in credit markets bankers had been scratching their heads about where the necessary financing would come from and whether the supporting banks would be able to come up with cash.

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Category: Company News, Editorial/Comment

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