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Formal MAN bid for Scania in doubt

A formal bid by MAN for Scania was expected today (Wednesday), with shareholders having to decide in December whether to accept the offer. The key shareholders are the Wallenberg family and Investor AB.
However the influential German newspaper FAZ (Frankfurter Allgemeiner Zeitung today reported that talks between MAN, Scania and Volkswagen had failed and a bid is not likely to succeed.
The big question is the view of Volkswagen now that boss Bernd Pischetsrieder is not longer with the company, and also whether Investor and the Wallenberg family control enough shares to bock the bid even if VW voted for it.

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Posted by Andrew Brown on November 15, 2006 9:35 AM |

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