From AFX News Limited
FRANKFURT — Siemens has allowed bidders to conduct due diligence on its automotive electronics business Siemens VDO Automotive (VDO), according to German daily Handelsblatt.
The report says that both German tire manufacturer Continental and U.S.-based airbag manufacturer TRW Automotive have seen VDO’s books.
At the same time, the report claims that TRW Automotive is more likely to win the auction because it has the backing of U.S.-based buyout firm Blackstone.
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