‘Market Disruptions’ Hamper Schaeffler Deal - Tire Review Magazine

‘Market Disruptions’ Hamper Schaeffler Deal

Bloomberg reported this morning that Schaeffler Group has been unable to complete syndication of a $22.1 billion loan it needs for its bid for Continental AG.

Schaeffler, said the report, could not get the loan deal done due to “market disruptions” of recent weeks. The loan is supposedly on hold, the report said, “and may resume when clarity about Schaeffler’s strategy is in place.” (Tire Review/Akron)

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