By Giulia PetroniVitesco Technologies Group's minority shareholder Greenlight Capital is calling on the auto supplier to press for an improved takeover bid by Schaeffler that better reflects its value or pursue other options. Last month, Schaeffler made an offer to buy all of Vitesco's shares in a bid that values the target at EUR3.64 billion. Greenlight Capital also said other options could be pursued, such as the sale of Vitesco's powertrain-solutions business to Schaeffler or the spinoff of the company's electrification solutions to Vitesco's shareholders. Funds managed by Greenlight Capital and its affiliates collectively hold around 3.5% of Vitesco's shares. Vitesco and Schaeffler weren't immediately available for comment when contacted by Dow Jones Newswires.

Source: Wall Street Journal November 06, 2023 15:24 UTC