MAN seeks talks with Scania as it ends hostile bid

Article Abstract:

Maschinenfabrik Augsburg-Nurnberg AG of Germany is giving up on its hostile acquisition bid for Scania AB of Sweden. The 10.3 billion Euros ($13.34 billion) bid was rejected by Scania AB and MAN AG shareholders, Volkswagen AG of Germany and Investor AB of Sweden. The German truck industrial will continue acquisition negotiations.

Financial report

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MAN buys at least 5% of Scania

Article Abstract:

Maschinenfabrik Augsburg-Nurnberg AG of Germany offered investors 475 Swedish Kronor ($64.22) per share for a five percent stake in Scania AB of Sweden. The move gives the German truck industrial an edge in a $12 billion takeover battle for Scania AB.

Industry overview

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MAN's bid for Scania is in the hands of VW board

Article Abstract:

Maschinenfabrik Augsburg-Nurnberg AG of Germany has a hostile bid of $13.4 billion for rival Scania AB of Sweden. The trucking industry bid hinges on the support of Volkswagen AG of Germany for a nearly 50 percent stake in Scania AB.

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