MAN to Bolster Scania Takeover Bid

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ermany’s MAN plans to bolster its takeover offer for rival truck maker Scania, Bloomberg reported Friday, citing three people close to the deal.

The German truck manufacturer may increase the number of shares it is prepared to offer Volkswagen AG, which holds 34% of Scania’s voting rights, as well as make a larger cash offer to Investor AB, a Swedish investment firm with a 19% stake in Scania, Bloomberg said.

The offer would be made sometime in the next few weeks, Bloomberg reported.

Scania rejected on Sunday a $12 billion takeover bid from its German competitor. MAN chairman Anton Weinmann has since said he will continue MAN’s efforts to purchase its Swedish rival. (Click here for previous coverage.)