SCHAEFFLER AG - SCFLF STOCK NEWS

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Schaeffler AG is a leading technology company driving innovative solutions in the field of motion technology for over 75 years. With a focus on electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, Schaeffler is committed to making motion more efficient, intelligent, and sustainable. With sales of 15.8 billion euros in 2022 and around 84,000 employees, Schaeffler is a global pioneer in Motion Technology. The company offers high-precision components and systems for drive train and chassis applications, as well as rolling and plain bearing solutions for a wide range of industrial applications. Schaeffler's recent merger with Vitesco Technologies Group AG aims to create a leading Motion Technology Company with four focused divisions, including E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions, to capitalize on the growing opportunities in the field of e-mobility.

12/20/2023 04:20 AM

News

Schaeffler AG has Secured 29.88 Percent of Vitesco Technologies Group AG with its Public Tender Offer

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Schaeffler AG (SCFLF) has successfully completed a tender offer for Vitesco Technologies Group AG, acquiring 29.88% of the share capital and voting rights. The company expects to hold 79.82% of Vitesco's shares after the tender offer. An Extraordinary General Meeting and separate meeting are scheduled for February 2, 2024, and the overall transaction is anticipated to be completed in the fourth quarter of 2024.

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Schaeffler AG Publishes Offer Document for Voluntary Public Tender Offer for Outstanding Shares of Vitesco Technologies Group AG – Acceptance Period Starts Today

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Schaeffler AG Announces Tender Offer for Vitesco Technologies Group AG Shares at 20% Premium: The German Federal Financial Supervisory Authority approved Schaeffler's offer document for the voluntary public tender offer for Vitesco shares. Vitesco shareholders can accept the offer of 91 euros per share or retain their shares until the proposed merger with Schaeffler.

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FAQ

What is the current stock price of SCHAEFFLER (SCFLF)?

The current stock price of SCHAEFFLER (SCFLF) is $6.4 as of February 7, 2025.

What is the market cap of SCHAEFFLER (SCFLF)?

The market cap of SCHAEFFLER (SCFLF) is approximately 4.6B.

What is Schaeffler AG known for?

Schaeffler AG is a leading technology company known for driving innovative solutions in the field of motion technology for over 75 years.

What are Schaeffler's core business areas?

Schaeffler focuses on electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies.

What was the recent achievement of Schaeffler AG?

Schaeffler recently announced the acquisition of Vitesco Technologies Group AG, aiming to create a leading Motion Technology Company.

How many employees does Schaeffler AG have?

Schaeffler AG has around 84,000 employees globally.

What are the divisions of the combined Schaeffler and Vitesco entity?

The combined entity will have four divisions, including E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions.

What is the focus of the E-Mobility division?

The E-Mobility division aims to offer best-in-class solutions in electrification, leveraging the growth opportunities in e-mobility.

When is the completion of the overall transaction expected?

The completion of the overall transaction, including the merger of Vitesco into Schaeffler, is expected to take place in the fourth quarter of 2024.

What are the benefits of Schaeffler's share conversion for shareholders?

The share conversion will give all shareholders voting rights and improve liquidity and free float of the share, enhancing the company's attractiveness for investors.