Continental will get division Siemens for 11,4 billion euro
German company Continental AG, the fourth on size in the world the manufacturer of trunks for cars, will buy company VDO for 11,4 billion euro. The corresponding agreement has been reached with German concern Siemens AG (VDO’s parent company).
The given enterprise produces electronic details for cars: parts for driving mechanisms, electronic schemes for the engine and details of systems of fuel injection. The annual sales volume of the company makes approximately 10 billion euro.
As it is said in the materials of Continental, the transaction is to receive the approval of corresponding adjusting bodies.
Today it became known, that other Siemens AG’s division company Siemens Medical Solutions of Siemens AG gets company Dade Behring Holdings, Inc., specializing on the equipment for carrying out of medical diagnostics. According to the terms of transaction Siemens will pay 77 dollars cash for each Dade Behring’s share. Thus, the sum of the transaction can reach 7 billion dollars
It is expected, that the offer on purchase of all American company’s shares will be made till August, 8th. Dade Behring board of directors has unanimously voted recommending shareholders to accept the offer of the German concern. As well as in the first case, it should be approved by corresponding adjusting bodies for realization of the transaction. It is expected, that it will be completed within three-six months.
Concern Siemens AG is presented in more than 190 countries of the world and has almost 475 thousand employees.
