Volkswagen makes $9.2B bid for remaining Scania shares
Volkswagen says its offer represents a premium of more than 50 per cent.
February 24, 2014 by The Canadian Press
BERLIN—Volkswagen is offering 6.7 billion euros ($9.2 billion) to take over the rest of Swedish truck maker Scania.
Europe’s biggest auto manufacturer says it wants to purchase the 37.4 per cent of Scania it doesn’t already own.
Volkswagen says its offer represents a premium of more than 50 per cent.
Wolfsburg-based Volkswagen estimates that a takeover will result in cost savings of 650 million euros a year.
