MAN Sees Synergies with Scania, Rules Out Counter-Offer

December 14, 2006 10:30 AM, EST

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erman truck maker MAN AG sees some synergies from the purchase it wants to make of Sweden’s Scania AB, but a counter-offer for Scania to buy MAN is “unthinkable,” Bloomberg reported Thursday, citing European press reports.

Technological benefits from a combination of the two companies are more limited, MAN Chief Executive Officer Haakan Samuelsson told the Swedish news agency Direkt, Bloomberg reported.

But Samuelsson told the business Web site E24 that a counter-offer for Scania to buy MAN would be “unthinkable,” Bloomberg said.

MAN made an unsolicited takeover bid of 10.3 billion, about $13.6 billion, in October.

The European Union delayed an antitrust ruling on the proposed takeover until Dec. 20. (Click here for previous coverage.)