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Business - Sweden - Truck maker Volvo plans series of acquisitions
STOCKHOLM,Sweden -Financial Times/ Reuters -August 21, 2006: -- The world's number two truck maker, Sweden's Volvo, is planning a series of acquisitions to broaden its product range, its top executive said... Bid speculation has surrounded Volvo in recent years due to its very strong balance sheet and the expectation that its main shareholder Renault might want to sell its 20 percent holding in the truck maker... A report last week that a U.S.-based hedge fund was trying to drum up interest in a bid or pressure it for more shareholder payouts sent the firm's shares sharply higher... Chief Executive Leif Johansson said the firm was considering steps to enlarge its foothold in the Chinese market and would also consider buying a truck maker in Russia...
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