As expected, Porsche has offered EUR100.92 per ordinary share in its mandatory takeover offer for Volkswagen.

Preference shares will attract a price of EUR65.45 euros, according to preliminary calculation.

Porsche said it now holds 30.94% of shares.

The current share price is over EUR112 euros, meaning that shareholders are unlikely to accept the offer. Porsche is offering the lowest possible price for shares because it is only making an offer because it is a mandatory requirement having increased its stake above 29.9%.

Were Porsche to launch a full takeover offer at this point it believes it would be paying a premium for shares.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Preference shares are currently trading at EUR75.5 [11:30GMT Wednesday 28 March].

By making a takeover offer now, Porsche said it will be able to increase its stake in time, when conditions suit, without having to make a full takeover offer again.