Volvo holders approve sale of car unit

Article Abstract:

AB Volvo stockholders have given their approval to the sale of the company's car unit to Ford Motor Co. The unit will be sold for 50 billion kronor ($6.06 billion). In addition, Volvo planned to repurchase 10 billion kronor worth of stock in an attempt to raise the company's value. The plan is also intended to return surplus money to stockholders. The approval of Volvo's shareholders will allow the firm to concentrate on acquiring bus and truck manufacturers.

Comment:

Volvo stockholders approve sale of the company's car unit to Ford Motor

United States, Motor vehicles and car bodies, Foreign operations, Automobiles, Automobile Manufacturing, Motor Vehicles and Equipment, Ford Motor Co., F

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Volvo and Scania finally tie the knot in 6.9 billion euros deal

Article Abstract:

AB Volvo has reached an agreement to acquire Scania AB in a deal worth 6.9 billion euros. The acquisition will merge the second- and third-ranked makers of heavy trucks in the world. The deal will also form a new heavy truck leader in the European market. Scania is given a value of 315 kronor (35.9 euros) per share from the deal. The deal is expected to be a new addition to the consolidation of the automotive industry.

Comment:

AB Volvo to acquire Scania AB in deal worth 6.9 billion euros

Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Mergers, acquisitions and divestments, Automobile industry, Transportation equipment industry, Scania AB

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