Electronics Production | April 25, 2007
Continental place bid on Siemens VDO
German automotive supplier Continental AG reiterated its interest in Siemens AG's VDO automotive business on Tuesday as part of a drive to step up acquisitions.
According to a Reuters report, Continental is not prepared to make takeovers at any price, but was prepared to pay justified prices for appropriate targets. Siemens has confirmed it has received expressions of interest in VDO, but has said its preferred option would be to float the unit via an initial public offering.