| Summary: | 碩士 === 國立政治大學 === 國際經營管理英語碩士學位學程(IMBA) === 100 === In 2008 the acquisition attempt of Schaeffler, a private held company based in the remote Bavarian town of Herzogenaurach, to acquire Continental AG, a public listed company and member of the top 30 companies in the German stock exchange index (DAX) made headlines in Germany and abroad. It was not only the first time a private held company launched a take-over attempt on a DAX listed company, but also the way Schaeffler prepared and exercised its acquisition has not been seen before. The deal, which was initially seen as a ‘right out of a M&A text book piece’ of how to plan and exercise a perfect hostile acquisition, developed more and more to become a major threat to the existence not only for Continental, but also for Schaeffler.
This case study will outline the development of the case with (1) an introduction, (2, 3) a look inside Schaeffler’s and Continental’s history and existing businesses, (4) the look outside to the industry the two companies act within and (5) later describe the underlying reasons and strategies formulated by Schaeffler to acquire Continental, (6) the preparations and (7) actions taken as a part to implement its goals. It will finally (8) give an overview of the development after an investor agreement between Schaeffler and Continental was concluded and (9) suggest some questions and points to be discussed in the closing remarks.
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