Suggestions that the headquarters of a possible merger between MAN and Scania might be located outside of Germany or Sweden has fuelled further heated arguments.
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German newspaper Süddeutsche Zeitung has reported that Scania’s major shareholders, the Wallenburg family and Volkswagen, are considering housing the headquarters in a third party neutral location such as Liechtenstein or the Netherlands.
However workers representatives, which control half of the seats on the company’s supervisory board, are reported to have ruled out approving moving the headquarters outside Germany.
The parties involved in the proposed merger are supposed to be in a ‘cooling-down’ phase, following arguments in January, ahead of MAN dropping its takeover bid for Scania.
According to dpa-AFX, Volkswagen is testing how far it can go with MAN, now that it is the truck and bus maker’s largest shareholder.
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By GlobalDataMAN is described as a traditional Munich company that will celebrate its 250th anniversary this year.
One analyst questioned the rationale of setting up a new headquarters at substantial cost just to appease differences between the two merger parties. Another said that it could end up being just the location for a holding company, with two companies retaining headquarters in separate countries, like the now failed merger of DaimlerChrysler. Yet another described the plan as a ‘lazy compromise’ that would not create any real value or contribute to the future success of the company.
