Isuzu shares surged 9.6 percent due to Vw’s interest in buying it

Article by Christian Andrei, on April 25, 2011

The shares of Isuzu Motors Ltd. surged as much as 9.6 percent, the most on an intraday basis since March 16, after a Wednesday report of Germany’s Manager Magazin stated that Volkswagen AG is taking a share on Isuzu or buying the company outright. The report did not name the source.

The magazine mentioned that board member Jochem Heizmann held discussions with Isuzu and paid production sites a visit. A spokesperson for VW stated that the company will not decide soon regarding taking a stake in Isuzu, and refused to make further comments.

The magazine also reported that Volkswagen discussed the possibility of MAN SE acquiring a holding in Isuzu. According to Bloomberg data, VW owns 29.9 percent of the German truckmaker MAN.

Eiji Mitsuhashi, spokesperson for Isuzu, was not available for comment, while Stefan Straub, MAN’s spokesperson, declined to comment on the report. VW is targeting to finalize a merger with Porsche SE after it purchased 49.9 percent of the company's automaking unit.

In January 2010, the company also paid $2.5 billion for a 19.9 percent stake in Suzuki Motor Corp. Such endeavor aims to jointly develop vehicles for emerging markets, in line with its goal to overtake Toyota Motor Corp. as the market leader worldwide by 2018.

Toyota has shares in Isuzu of 5.9 percent. According to Bloomberg data, Isuzu’s share price increased more than twice in 2010, making it the best performer in the Nikkei 225 Stock Average. Mitsubishi Corp. has the largest share in Isuzu with a 9.2 percent stake.

Topics: isuzu, volkswagen

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The renowned Shelby Super Snake is now 50 years old! As we greet the Super Snake a “happy birthday” or a “happy anniversary,” Shelby itself is celebrating half a century...
by - January 23, 2017
Nearly a year after the Subaru XV Concept was unveiled at the 2016 Geneva Motor Show in Switzerland, this SUV study is making its North American debut at the 2017...
by - January 23, 2017
It looks like Porsche will be very busy throughout 2017 as it prepares for the eventual launch of its two new models this year – the 2017 Porsche 911 GT3...
by - January 23, 2017
Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries