Siemens VDO opens books to Continental and TRW - report |
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Published
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Mon, 16 Jul 2007 10:04
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FRANKFURT (Thomson Financial) - Siemens has allowed bidders to conduct due diligence on its automotive electronics business Siemens VDO Automotive (VDO), according to German daily Handelsblatt.The report says that both German tire manufacturer Continental and US-based airbag manufacturer TRW Automotive have seen VDO's books.At the same time, the report claims that TRW Automotive is more likely to win the auction because it has the backing of US-based buyout firm Blackstone.Alexander.Wessendorff@thomson.comaw/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Continental AG offers 10 bln eur for Siemens VDO Automotive unit - report 