In a statement Wednesday, NBK says the Financial Supervisory Authority has signed off on its plan to offer Continental shareholders US$109.39 per share in cash.
With about 161 million outstanding shares, the offer gives Continental a value of about $17.6 billion.
Hannover, Germany-based Continental did not immediately comment on the approval but has reiterated it would not entertain any offer unless the price per share was higher.
NBK supplies ball bearings for the industrial, aviation, aerospace and the automotive sectors as well as components for engines, transmissions and drive trains.
本文转自：China Industry News
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