schaeffler
German industrial and automotive supplier Schaeffler AG and German automotive supplier Vitesco Technologies Group on Wednesday entered into a merger agreement. The agreement sets out legally binding terms and conditions for the merger of Vitesco into Schaeffler, the latter said in a press release. The previously published preliminary exchange ratio of 5 to 57 was confirmed as binding in the signed agreement, meaning Vitesco shareholders will receive 11.4 Schaeffler shares in exchange for one Vitesco share. The effectiveness of the merger agreement is subject to the approval of the respective A...
DPA Breaking News
Full-year profit fell in 2023 for German industrial and automotive supplier Schaeffler AG compared to 2022, it reported on Tuesday. Schaeffler reported that its fiscal 2023 net income attributable to shareholders of the parent company amounted to €310 million ($336 million), down from last year's €557 million. The decline mainly reflected special items primarily attributable to the proposed acquisition of Vitesco Technologies Group AG. Adjusted net income amounted to €623 million, compared to the prior year's €610 million. Earnings before financial result and income taxes, or EBIT, were €834 m...
DPA International
Full-year profit fell in 2023 for German industrial and automotive supplier Schaeffler AG compared to 2022, it reported on Tuesday. Schaeffler reported that its fiscal 2023 net income attributable to shareholders of the parent company amounted to €310 million ($336 million), down from last year's €557 million. The decline mainly reflected special items primarily attributable to the proposed acquisition of Vitesco Technologies Group AG. Adjusted net income amounted to €623 million, compared to the prior year's €610 million. Earnings before financial result and income taxes, or EBIT, were €834 m...
DPA
Full-year profit fell in 2023 for German industrial and automotive supplier Schaeffler AG compared to 2022, it reported on Tuesday. Schaeffler reported that its fiscal 2023 net income attributable to shareholders of the parent company amounted to €310 million ($336 million), down from last year's €557 million. The decline mainly reflected special items primarily attributable to the proposed acquisition of Vitesco Technologies Group AG. Adjusted net income amounted to €623 million, compared to the prior year's €610 million. Earnings before financial result and income taxes, or EBIT, were €834 m...
DPA Breaking News
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