An agreement to merger MAN and Scania seems to be getting closer.
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The Sunday edition of the Frankfurter Allgemeine newspaper reported that MAN will abandon its hostile bid for Scania in favour of friendly merger talks between MAN, Scania and Volkswagen.
Volkswagen chief executive Bernd Pischetsrieder will answer questions from analysts on Monday (9 October) about its recent acquisition of a stake in MAN, according to the dpa news agency.
Swedish business newspaper Dagens Industri is anticipating a telephone press conference at 3pm today. The paper expects that Volkswagen will present plans for a merger of MAN and Scania.
Both media are convinced that a merger is imminent, although there are still many questions to be answered.
Volkswagen has taken a 15% stake in MAN, following MAN’s takeover bid for Scania, in which Volkswagen owns an 18.7% stake. Volkswagen is trying to ensure it has a major role in the new company that it hopes will also include its own Brazilian truck business. MAN’s initial offer for Scania offered to buy Volkswagen out.
