In the latest twist in the takeover saga, Scania has told shareholders to reject MAN's renewed takeover offer while MAN has given assurances to Scania's staff over job security.
Scania's board of directors still feels the MAN offer undervalues the Swedish company it believes that MAN underestimates the potential for long-term synergies.
MAN, on the other hand, is rejecting claims by unions at Scania that production jobs would be lost in the merger.
Reed Business Information Limited.©2008
