Volkswagen AG extended the offer period for its $9.2 billion bid to buy out Swedish truck maker Scania AB after failing to reach the necessary 90% threshold of approvals.
April 30, 2014Business
VW’s Scania Bid Gets Backing From Shareholder Group
Volkswagen AG’s $9.2 billion bid to buy the rest of heavy-truck maker Scania AB received a boost after Scania’s fourth-largest shareholder backed the deal.
April 24, 2014Business
VW Rules Out Raising Price of Scania Bid
Volkswagen AG ruled out raising its $9.2 billion bid to buy out Swedish truck maker Scania AB after some minority stakeholders rejected the deal as being too low.
April 14, 2014Business
Swedish Pension Fund Declines VW’s Scania Bid
A Swedish pension fund that holds a small amount of Sweden-based Scania has declined Volkswagen’s $9.2 billion offer to buy out the rest of the truck maker.
April 10, 2014Business
Volkswagen Agrees With Swedish Unions Over Scania Job Security
Volkswagen has agreed with Swedish labor unions to grant full job security to workers at Swedish truck maker Scania, which the German automotive group is seeking to acquire, Reuters reported April 2.
April 2, 2014Business
VW Stands by $9.2 Billion Bid for Scania After Committee Recommends Rejection
Volkswagen AG declined to raise its $9.2 billion bid to buy out rest of Swedish truck maker Scania AB after a Scania board committee recommended that minority owners reject the offer as being too low.
March 18, 2014Business
VW Hires Renschler to Run Truck Unit; Bids $9.2 Bln. for Remainder of Scania
Volkswagen AG appears to be setting itself up as a major player in the world truck market after announcing that it has made an offer to buy the remainder of Swedish truck maker Scania AB for $9.2 billion and has hired Andreas Renschler to oversee global truck operations.
March 3, 2014Business
MAN’s 2Q Profit Drops on Lower Truck Demand
European truck maker MAN SE’s second-quarter profit fell 67% on higher costs and declining truck demand, Bloomberg News reported Tuesday.
July 30, 2013Business
Lawsuit Filed Over VW’s Control of MAN SE
Effecten-Spiegel AG sued German truck maker MAN SE over answers given at a shareholders’ meeting, perhaps marking the start of a legal battle with minority shareholders over Volkswagen AG’s plan to take full control of MAN, Bloomberg News reported.
June 21, 2013Business
Volkswagen Moves to Fully Control MAN as Companies’ Boards Approve Plan
Volkswagen AG moved closer to combining the three truck businesses it controls, with a deal to take full stewardship of MAN SE.
April 25, 2013