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Scania sees Porsche offer as hostile takeover
"Scania officials advised today company's shareholders to decline the takeover offer made by Porsche, under the pretext that the price offered per share is too low. Scania has taken this decision after consulting with Deutsche Bank and Morgan Stanley. In the first workday of 2009, Porsche announced that it had acquired indirect control of Scania AB by increasing its holding in Volkswagen to approximately 50.76 percent of shares with voting rights in Volkswagen. As a resul..." Continue Reading →
Photo credits: Scania
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