Deals
Continental Back in German DAX After Schaeffler Recovery
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Continental AG, Europe’s second-largest auto-parts maker, returned to Germany’s benchmark DAX index after a 45-month absence in a sign of its recovery from debt woes that invited a takeover bid from Schaeffler AG.
Continental is joined by Lanxess AG, a maker of synthetic rubber, in the gauge that tracks Germany’s 30 biggest listed companies, Deutsche Boerse AG, the Frankfurt-based exchange operator that controls the index, said in a statement yesterday. MAN SE was taken out of the index after Volkswagen AG increased its stake in the truckmaker to more than 75 percent. Metro AG was also removed because it no longer fulfilled the criteria.