Vitesco Technologies says it will evaluate Schaeffler’s offer of buyout

The company said that its boards have noted the concerns of its shareholders and employee representatives

Global automotive supplier of electric mobility and powertrain components Vitesco Technologies has announced that its executive board and supervisory board will comply with their fiduciary duties to evaluate the voluntary public purchase offer for all outstanding shares of Vitesco Technologies and the merger of Vitesco Technologies into Schaeffler AG intended by Schaeffler, according to a press release dated October 17.