Continental AG. resumed negotiations with suitor Schaeffler Group on Tuesday over the terms of a possible acquisition by the family-owned maker of ball bearings, sources familiar with the matter told German newswire dpa.

It is unlikely that the two sides will overcome their differences on Tuesday, even though it remains a possibility, the sources said.

Continental's supervisory board last week rejected Schaeffler's 70.12 euro-per-share bid, but said it is seeking to resume negotiations on a higher offer shortly.

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