Schaeffler and Vitesco set share exchange ratio for planned merger

German automotive supplier Schaeffler and Vitesco have agreed to exchange 11.4 Schaeffler shares per Vitesco share as a step toward merging. The merger aims to create a more competitive supplier in the electric vehicle segment.

“German automotive supplier Schaeffler and Vitesco took a further step towards merging the companies on Monday with an agreement to exchange 11.4 Schaeffler shares per Vitesco Technologies share.”reuters.com

• 3 sources
• reuters.comSchaeffler, Vitesco set share exchange ratio for planned mergerFeb 26, 2024
• schaeffler.comSchaeffler and Vitesco enter into merger agreement | Press Releases | Schaeffler GroupMar 13, 2024
• chargedevs.comCharged EVs | Schaeffler/Vitesco merger will create the largest global EV powertrain supplier - Charged EVsCharles MorrisMar 22, 2024

Summarized from public sources; check the original articles before acting on it.