Tuesday, January 20, 2009
Porsche makes mandatory offer for Scania
Porsche has had to make a mandatory offer of £2.6 billion for Scania following its increase in Volkswagen to 50.76%.
VW owns 69% of Swedish-based truck maker Scania and Porsche had to legally make an offer, although it has no interest in acquiring shares in the company.
Under Swedish takeover regulations, Porsche was required to make a bid for Scania after it earlier this month raised its stake in the truck maker's main shareholder, Volkswagen, above 50 percent, giving it indirect control of Scania.
DATED: 20.01.09
FEED: AM
VW owns 69% of Swedish-based truck maker Scania and Porsche had to legally make an offer, although it has no interest in acquiring shares in the company.
Under Swedish takeover regulations, Porsche was required to make a bid for Scania after it earlier this month raised its stake in the truck maker's main shareholder, Volkswagen, above 50 percent, giving it indirect control of Scania.
DATED: 20.01.09
FEED: AM
