facebook
twitter
rss
account
search
search
 

Volkswagen makes tender for Swedish truck company Scania

Feb. 21, 2014 at 3:09 PM   |   Comments

BERLIN, Feb. 21 (UPI) -- German automaker Volkswagen said Friday it would set out a tender offer to buy Swedish truck group Scania, valuing the company at $9.2 billion.

"The offer reflects our fundamental view of Scania's value and the long-term strategic potential of fully integrating Scania within the Volkswagen Group," the company's Chairman of the Board Martin Winterkom said in a statement.

Volkswagen said the offer stands "regardless of share class."

The offer is for the 298,910,903 shares Volkswagen does not already control.

The offer is a 57 percent premium based on a share price average in the 90 days before Feb. 21, when the company went public with the offer.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback