Executives at truck and engine producer MAN are preparing for a possible counter-bid from Scania to take over MAN, according to the German newspaper Handelsblatt.
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Should Scania make an offer, the company has a ‘Plan B’ in place, the newspaper said. No details of the plan were given.
Scania’s largest shareholder, Volkswagen, was reported by Reuters, citing an unofficial source, as wanting to retain a significant influence on Scania in the event of a merger of the two companies.
Volkswagen on Monday rejected MAN’s offer to take over Scania, saying it did not reflect its industrial interests.
Reuters also quoted a senior Scania executive as saying that Scania could successfully go it alone. Hass Johansson, head of R&D at the Swedish company, said that it has the knowledge and resources to meet technical challenges and achieve profitable growth.
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By GlobalDataSimilarly a Scania spokeswoman told the German news agency dpa-AFX that Scania sees big opportunities for future growth in eastern Europe and Asia, and from alternative fuels, particularly ethanol.
