takeover

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News and Information about takeover

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You also might be interested: vw, porsche, porsche panamera, porsche cayenne, volvo, geely, china, norway

Report: Vw to buy Porsche AG for €8 billion

In an ironic twist of events that has Volkswagen closer to a deal to buy Porsche-AG instead of the other way around, German newspaper Der Spiegel reports that the agreement would allow for Porsche to be bought for about €8 billion ($11.28 billion).

On July 23, the Porsche supervisory board will be meeting to decide whether to finalize a deal that would give 49.9% of Porsche to Volkswagen, while still allowing for the possibility of a full acquisition.

If the deal pushes through, Porsche will be 10th car brand owned by the Volkswagen Group. Other brands include Audi, Bentley, Bugatti, Lamborghini, Seat, Scania. Skoda, VW and VW Commercial Vehicles.

Read the entire article Report: Vw to buy Porsche AG for €8 billion

Vw’s takeover may kill the Porsche Cayenne SUV and new Panamera

Many speculations have cropped up over what will happen to Porsche's product lineup once Volkswagen takes over. CAR Magazine in the UK has come up with its own dramatic predictions. The British site believes the popular Cayenne SUV and new Panamera will not be picked up again when their product cycles end in seven years.

CAR says VW chairman Ferdinand Piech is planning to take a more brand-specific approach to Porsche by focusing on the two seat sportscars that make the sports car maker great.

The vehicle that keeps getting mentioned is a roadster that could slot below the Boxster in the Porsche lineup. The entry Porsche could be based on VW's Modular Sportscar Structure (MSS), giving Porsche an entry level mid-engine sports car that considerably more will be able to afford.

Read the entire article Vw’s takeover may kill the Porsche Cayenne SUV and new Panamera

Geely is the leading contender to takeover Volvo

Chinese manufacturer Geely is inching its way to take over Volvo from Ford and a report in the Wall Street Journal is saying that in fact, it has emerged as the leading contender. Geely's bid is estimated to be worth $2.5 billion, a bid that Ford and outsiders consider much higher than was expected for Volvo.

In the past few years, Volvo was reported to have lost more than $1bn. While it seems that the proposal is too good to be true, there is one sticking point.

Geely is asking to take on only Volvo's assets, such as its safety technology and factories. Geely does not want to be involved in any post-Ford restructuring process, taking on pension debt or unwanted inventory.

Read the entire article Geely is the leading contender to takeover Volvo

Norwegian fund renews its attack on Vw’s planned takeover of Porsche

Despite analysts' warnings that nothing will come of its protests, Norway's state fund -- Norges Bank Investment Management -- renewed its attack on Volkswagen AG's impending takeover of parts of Porsche Automobil Holding SE. Norway's $420 billion wealth fund, one of the biggest sovereign wealth funds (SWF) worldwide, is a VW investor.

The state fund referred to VW's plan as "costly and opaque" and stated that it would be taking a more activist approach to shareholdings in its portfolio.

Anna Kvam, head of corporate governance at Norway 's state fund, said that it intends to uplift the rights of minority shareholders and raise standards of corporate governance and sustainability in the firms it owns.

Read the entire article Norwegian fund renews its attack on Vw’s planned takeover of Porsche