MAN and Scania have held direct talks to discuss possible synergies between the two companies.
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Representatives of the two companies met a few days ago, but the two parties are reported to be ‘miles apart’, according to the Financial Times.
The talks have been encouraged by Volkswagen, the largest shareholder in both companies, which supports a proposed merger of the two companies, as long as it still has a significant role to play.
Scania CEO Leif Ostling, has resisted the takeover to date. The Financial Times reported that he has spoken several times to his counterpart at MAN, Håkan Samuelsson, but that they have failed agree a common way forward.
Speaking at the announcement of MAN’s Q3 results yesterday, Samuelsson said that “the industrial logic behind the [proposed] union is receiving broad support,” but this latest news suggests support is not forthcoming from Scania management.
While the bid does appear to have gathered a strong wave of momentum, it is still far from a done deal.
Bid documents for the proposed takeover of Scania by MAN are due to be published in mid-November.
