Continental AG, TRW Submit Larger Bids for Siemens VDO

(Akron/Tire Review) Continental AG and the tandem of U.S. automotive supplier TRW and private equity company Blackstone both submitted bids to acquire Siemens AG's VDO unit that are each above $16.5 billion, Handelsblatt reported, citing sources within the financial industry.

Published: July 24, 2007

The bids were higher than the $11 billion to $13 billion range previously expected.

All three companies declined to comment, the report said. The bids were submitted this past weekend.

Blackstone and TRW have vowed not to close any German factories to sweeten its offer for the automotive electronics unit VDO, media reported over the weekend.

Siemens’s supervisory board is expected to hold a meeting on Wednesday at which it will discuss whether to sell VDO to Continental or TRW rather than floating the unit in an initial public offering.

Cardinal rules for servicing custom wheel assemblies

Pulling off special wheel and tire packages requires serious expertise from your team.

By Christian Hinton

Published: May 16, 2024

We all look for different ways to stand out. Customers with custom wheels also seek a truly unique look to make their ride stand out compared to others on the road. However, for customers to pull off these special wheel and tire packages, it requires serious expertise from your team. Let's go over some key considerations for nailing custom wheel service.