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BUSINESS AFFAIRS
* Germany - MAN seeks Scania stock for 475 skr after Swedes reiterate bid rejection
FRANKFURT,Germany -Forbes/AFX -12 Oct 2006: -- MAN AG effectively raised its offer for Scania AB to 475 skr per share, instructing brokers to buy capital equivalent at least 5 pct of voting rights in the company at that price, after the Swedish truckmaker reiterated its rejection of MAN's overtures... Meanwhile, battle lines appeared to be drawn between Germany and Sweden as Volkswagen reportedly gave its backing to MAN's hostile bid, while Investor AB reiterated that the offer signficantly undervalues Scania...
posted by Unknown @ 1:34 PM
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