Volkswagen makes an offer for truck manufacturer MAN SE

Article by Christian A., on May 30, 2011

To mark another milestone in the bid of Volkswagen AG for global dominance, the company is set to make an offer for truck manufacturer MAN SE in the coming days. This is one of the offers in a series of plans for the company to become the No. 1 vehicle manufacturer in the world by 2018, outperforming Japan-based Toyota Motor Corp.

During the early parts of this month, the company has opened a $1 billion assembly plant in the United States. It has also been venturing in China, which is the biggest vehicle market in the world.

On the other hand, the alliance with Japan-based Suzuki has yet to progress. Moreover, the company is still working on a merger with Porsche. In addition, chairman Ferdinand Piech is eyeing Alfa Romeo of Fiat S.p.A.

Furthermore, Volkswagen is interested in combining MAN with Sweden-based truck manufacturer Scania in order to develop the biggest truck maker in Europe that will outperform the dominant player in the world – Daimler AG.

However, analysts are not perturbed by the ambitious plans of VW, stating that the various projects undertaken will mean that the risk of anything making a great impact on the shares of the company if a delay or problem occurs is lessened.

Earlier, the company has disclosed plans that it will make a low cash bid of 95 euros per share to buy out MAN, valuing the company at 13.8 billion euros ($19.7 billion), after its share rose above 30 percent.

Under the rules of Germany, if the offer sparks little interest from investors, VW will be allowed to buy shares in the market and obtain regulatory approval for closer cooperation between Scania, in which it holds a 45 percent stake, and MAN.

Topics: vw, germany, man

If you liked the article, share on:

Pin It

Comments

Recommended

South Korean car company SsangYong recently revealed sketches of their upcoming SUV. We’re not always impressed by Korean car designs, but this one looks quite promising. Yup, it is the...
by - March 26, 2017
Twenty-eight years after the company was first launched by Toyota, which was initially targeted to the United States market only, Lexus has already made its way to over 70 countries....
by - March 26, 2017
Last year was probably Porsche’s best year ever in terms of sales. Their factory in Stuttgart delivered 237,778 cars in total, which represents a six percent increase compared to the...
by - March 26, 2017
Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 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