VW Stands by $9.2 Billion Bid for Scania After Committee Recommends Rejection

Volkswagen AG declined to raise its $9.2 billion bid to buy out rest of Swedish truck maker Scania AB after a Scania board committee recommended that minority owners reject the offer as being too low.

March 18, 2014

VW Hires Renschler to Run Truck Unit; Bids $9.2 Bln. for Remainder of Scania

Volkswagen AG appears to be setting itself up as a major player in the world truck market after announcing that it has made an offer to buy the remainder of Swedish truck maker Scania AB for $9.2 billion and has hired Andreas Renschler to oversee global truck operations.

March 3, 2014

MAN’s 2Q Profit Drops on Lower Truck Demand

European truck maker MAN SE’s second-quarter profit fell 67% on higher costs and declining truck demand, Bloomberg News reported Tuesday.

July 30, 2013

Lawsuit Filed Over VW’s Control of MAN SE

Effecten-Spiegel AG sued German truck maker MAN SE over answers given at a shareholders’ meeting, perhaps marking the start of a legal battle with minority shareholders over Volkswagen AG’s plan to take full control of MAN, Bloomberg News reported.

June 21, 2013

Volkswagen Moves to Fully Control MAN as Companies’ Boards Approve Plan

Volkswagen AG moved closer to combining the three truck businesses it controls, with a deal to take full stewardship of MAN SE.

April 25, 2013

Volkswagen Offers to Buy Out MAN to Push Truck Integration

Volkswagen AG will offer to buy out the rest of MAN SE’s shareholders to take full control of the German truck maker, Bloomberg News reported Thursday.

January 10, 2013

Volkswagen Shuffles Execs; Changes Truck Chief

Volkswagen AG appointed a new trucks chief, added a top executive for China and replaced three Audi board members as part of a shakeup to push forward with growth plans, Bloomberg reported Monday.

June 4, 2012

Scania’s Profit Slips as European Truck Demand Stalls

Swedish truck maker Scania AB reported a first-quarter profit but its net income slipped 29% after it cut jobs to prepare for slowing European demand and raised prices on some models, Bloomberg reported Tuesday.

April 24, 2012

Volkswagen Moves Toward Majority Stake in German Truck Maker MAN

Volkswagen AG moved closer to its goal of becoming Europe’s largest truck maker in moving toward gaining a majority in German truck maker MAN SE, Bloomberg reported.

July 6, 2011

Volkswagen Again Boosts Stake in MAN

German carmaker Volkswagen AG Tuesday formally launched a bid for German truck maker MAN SE by boosting its stake in that company, a move that could create Europe’s largest truck maker, Reuters reported.

May 31, 2011