The report quotes an unnamed Scania ‘insider’. MAN is currently offering 475 krone per share, valuing the company at EUR10.3bn. The Scania board, and major shareholder, Investor, would find it difficult to resist such an offer, said the report.
Scania CEO, Leif Östling, who has strongly resisted MAN’s attempted takeover, is reportedly worried that if MAN’s offer is not accepted by the 31 January deadline, it will increase the offer.
In December it was reported that MAN had secured a credit line of EUR11bn for its proposed takeover of Scania, EUR700m more than the current offer. The fact that MAN has secured EUR11bn, rather than the EUR10.3bn it has formally offered for Scania, raised speculation that MAN may increase its offer.