Get yourselves on over to Bloomberg where there’s an update on the whole MAN-VW-Scania mergerfest. For that matter, Forbes will do. According to unattributed reports in German magazine Focus, it looks like the deal is on, and VW's Chief Executive Officer Bernd Pischetsrieder may become MAN AG's supervisory board head under a transaction that will form a new company out of MAN's truck unit and Scania AB.
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Comments (1)
Oliver has this about right. The report on the Forbes site comes originally from Focus Magazine in Germany. It is based in Munich as is MAN. It is a small city and Focus is in a good position to know what is going on.
What is interesting about the attempted takeover of Scania by MAN is the role played by Volkswagen boss Pischetsrieder. According to an excellent Financial Times report, Pischetsriede originally led MAN to believe that he would back the bid (VW is a major Scania shareholder)but then seems to have changed his mind.
It is also worth notting that the VW truck from Brazil was on display at the Hannover show and could be on sale in Eastern Europe.
Posted by Andrew Brown | October 3, 2006 2:58 PM
Posted on October 3, 2006 14:58