German truck manufacturer MAN AG, third major truck producer in Europe, yesterday made an official proposal to purchase Swedish truck producer Scania, representatives of the German company reported.
Scania`s management and its biggest shareholder Investor AB still do not accept the 10,3 bln euro merge bid believing that MAN underestimates the company.
This year, October 16, German automotive corporation Volkswagen announced that it would sell its 34% of Scania`s shares to MAN only in case if other shareholder approve of the bid. “Volkswagen will offer MAN its stock only when MAN acquires consent for tender from shareholders possessing not less than 71.31% of stock capital and not less than 56.01% of voting shares”, the German company said. The announcement says that Volkswagen still approves of friendly merge of two companies which will create Europe`s biggest truck producer.
Main shareholders of Scania are Volkswagen with 18.7% of shares (34% of voting shares) and Swedish investment firm Investor AB controlling 19.3% of voting shares.
|
English
Espanol
Русский
Articles