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Continental AG?s Shareholders Tender 82.41 Percent of the Shares of Continental AG to Schaeffler

By Bearing Manufacturer>Bearing News>Continental AG?s Shareholders Tender 82.41 Percent of the Shares of Continental AG to Schaeffler
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At the end of the statutory additional acceptance period, a total of 82.41 percent of the shares of Continental AG, Hanover, have been tendered to the Schaeffler Group in Herzogenaurach. The additional acceptance period ended at midnight on September 16. In addition, the Schaeffler Group already holds 7.78% of the shares of Continental AG, which it acquired outside of this offer. These figures take the shares into consideration which have been issued since the end of the acceptance period, most of which are shares issued in connection with the convertible bond issued in May 2004.

The offer can only be settled when all conditions of implementation including also the approval from the antitrust authorities have been met. Schaeffler already has approval for the closing of the transaction from the US antitrust authority as well as the Canadian antitrust authority. The Swiss antitrust authorities have provisionally permitted the settlement of the offer. The decision from the EU Commission is still outstanding. The final decision from the Swiss antitrust authorities is expected at the same time as the decision from the EU Commission.

The Schaeffler Group will publish without undue delay on its website www.schaeffler-angebot.de and in the electronic Federal Gazette when the offer conditions have been met. After this, the offer is to be settled within eight working days.


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