From AFX News Limited
FRANKFURT — Siemens AG has received several highly priced offers for a complete takeover of its VDO automotive unit, Manager Magazin has reported.
Continental AG has offered just under $15 billion for VDO and U.S. car parts supplier TRW Automotive has also submitted a bid, the report said.
Private equity firms Kohlberg Kravis Roberts (KKR) and Permira are also interested in acquiring VDO, according to the magazine.
Siemens said earlier this month that Continental’s offer for VDO was so far "not a competitive alternative" to the planned IPO of the unit.
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