volkswagen won\t raise scania offer
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Volkswagen: won't raise Scania offer

Arab Today, arab today

Arab Today, arab today Volkswagen: won't raise Scania offer

Frankfurt - AFP

Volkswagen, Europe's biggest carmaker, said Friday it will not increase its offer for truck manufacturer Scania after the Swedish group dismissed the bid. "As we have already said, Volkswagen is convinced that the offer is attractive for Scania shareholders and will lead to a sustainable and clear ownership structure that is beneficial to Scania," the German giant said in a statement. "Volkswagen has therefore stated that the offer will not be increased. The offer price of 200 krona (22 euros) per share is final." In February, Volkswagen offered 6.7 billion euros ($9.3 billion) to acquire the nearly 40 percent of Scania it does not already own. The offer runs until April 25. But Scania's board of directors recommended to shareholders not to part with their stock at that price. "Based on the long-term prospects of Scania, its growth outlook, technological excellence and the synergy potential, the committee believes the offer does not reflect the long-term fundamental value of Scania," the board wrote in March. "Scania is a world leader in its industry and the Committee has strong faith in the business plan set out by the company," added the board in a statement. Volkswagen currently has nearly 90 percent of voting shares in Scania, and owns 62.6 percent of the company. The German giant already owns truck- and bus-maker MAN and bought into Scania in 2000. It had previously said that it could make annual savings of 650 million euros through synergies by taking full control of the Swedish company

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

volkswagen won\t raise scania offer volkswagen won\t raise scania offer

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

volkswagen won\t raise scania offer volkswagen won\t raise scania offer

 



GMT 09:52 2017 Friday ,14 April

Bahrain to host cybersecurity forum/expo 2017

GMT 08:50 2017 Saturday ,22 April

In or out? EU is hot-button issue in French vote

GMT 20:12 2017 Sunday ,03 September

FM meets US Congress delegation

GMT 10:32 2017 Sunday ,04 June

Water shortage in parts of Muscat

GMT 22:59 2017 Tuesday ,10 October

US will welcome target of 10,000 Syria refugees

GMT 19:45 2017 Wednesday ,11 October

Etihad Airways to launch flights to Azerbaijan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday