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:

Comments

Recommended

Another day, another record. Is the new Dodge Challenger SRT Demon the fastest car to date? According to some sources, the Dodge Challenger SRT Demon had just beaten the Tesla...
by - April 24, 2017
Following in the footsteps of the McLaren 570S, 540C and 570GT is the newest addition to the McLaren Sports Series -- the roofless 570S Spider. McLaren 570S was rolled out...
by - April 24, 2017
The British automaker Lotus is noted for releasing low production, limited editions of its sports car lineage. Now the Hethel-based automobile manufacturer is back at it again with its latest...
by - April 24, 2017
Earlier this week, the revamped 2018 Mercedes-Benz S-Class was revealed ahead of the 2017 Shanghai Auto Show. As expected, Mercedes Benz’s flagship model is now offered in several variants including...
by - April 24, 2017
Well, this is clearly not good news for everyone. Ever since the new BMW M4 CS rolled out in Shanghai last week, several reports about its limited production have quickly...
by - April 24, 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