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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.

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.

European truck maker MAN SE’s second-quarter profit fell 67% on higher costs and declining truck demand, Bloomberg News reported Tuesday.

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.

Volkswagen AG moved closer to combining the three truck businesses it controls, with a deal to take full stewardship of MAN SE.

Volkswagen AG will offer to buy out the rest of MAN SE’s shareholders to take full control of the German truck maker, Bloomberg News reported Thursday.

Volkswagen AG appointed a new trucks chief, added a top executive for China and replaced three Audi board members as part of a shakeup to push forward with growth plans, Bloomberg reported Monday.

Swedish truck maker Scania AB reported a first-quarter profit but its net income slipped 29% after it cut jobs to prepare for slowing European demand and raised prices on some models, Bloomberg reported Tuesday.

Volkswagen AG moved closer to its goal of becoming Europe’s largest truck maker in moving toward gaining a majority in German truck maker MAN SE, Bloomberg reported.

German carmaker Volkswagen AG Tuesday formally launched a bid for German truck maker MAN SE by boosting its stake in that company, a move that could create Europe’s largest truck maker, Reuters reported.