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TRUCKS' MAKERS NEWS WORLD WIDE * Europe - MAN & SCANIA Affair
* European shares slide
London,UK -The Financial Times, by Rachel Morarjee -Oct. 19, 2007: -- German truckmaker MAN rose 2.3 per cent to €121.96 on rumours that Swedish rival Scania was poised to make a bid... Swedish press reports suggested that Volkswagen, the German carmaker, and Investor AB , the Swedish investment group, had agreed, as Scania's two biggest shareholders, that the truckmaker should bid for its rival... The move would reverse the roles played by the two truck groups last year, when MAN launched a hostile €10bn bid for Scania that was blocked by Investor AB... Scania fell 2.1 per cent to SKr184, while Investor slipped 2.9 per cent to SKr91.36. Shares in Volkswagen climbed 0.9 per cent to €175.57...
* Now Scania Wants To Be MAN's Best Friend
London,UK -Forbes (New York,NY,USA), by Parmy Olson/Thomson Financial News -18 Oct 2007: -- Europe's biggest truckmakers appear to have grown tired of playing happy families, and someone may be about to try and take control... Shares in Germany's MAN shot up on Thursday after a report in a Swedish newspaper said the biggest shareholders of Swedish truck maker Scania -- Volkswagen and the powerful Wallenberg family -- had agreed that it should try and buy its German rival... According to the report in the newspaper Dagens Industri, which cites "many" unnamed sources, the deal is structured so that Scania would bid for MAN, after which Investor and Wallenberg-controlled foundations would sell their stakes in Scania... Volkswagen owns nearly 30% of MAN and 20% of Scania (along with 36.4% of the voting rights), while MAN in turn owns 13.2% of Scania... Some analysts still don't see the potential synergies. "I don't know what exactly Scania would do with the industrial parts of MAN, since MAN is only 60% trucks," said Oscar Stjerngren, an analyst at Carnegie. "For sure there are synergies in a MAN-Scania tie-up, but when will it happen?"... A tie-up between Scania, MAN and Volkswagen is, "not a must, but a possibility," Boerje Ekholm, chief executive of Investor, was quoted as saying last week...
Labels: truckmakers news worldwide
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