MAN truck raises voting stake in Scania to 15.6 pct
German truckmaker MAN AG raised its voting stake in Swedish rival Scania to 15.57 percent, the companies said on Friday, rekindling prospects of a long-sought merger.
A MAN spokesman said the move reflected its strategic interest in closer cooperation with Scania, which last year rebuffed a takeover bid by the German industrial group that would have created the European truck market leader.
MAN had held a 14.8 percent voting stake in Scania, but the spokesman said it had arranged a share swap with another large investor that increases its number of Scania "A" shares, which carry more votes.
"They have bought 3.6 million 'A' shares and sold a corresponding number of 'B' shares," said Cecelia Edstrom, a Scania spokeswoman.
Scania "B" shares rose as much as 4.6 percent to 158 crowns and were still up 3 percent at 155.50 by 1153 GMT. Its "A" stock was up 4 percent, while MAN shares edged up 0.2 percent to 110.43 euros.
The two companies had agreed a cooling-off period after MAN's hostile approach triggered nasty exchanges and exposed bad blood between top managers even though MAN CEO Hakan Samuelsson is a Swede.
The companies are examining a merger that would also include Volkswagen's trucks business. VW is the biggest investor in both Scania and MAN.
Views:0
- 328 Units!China’s First Largest Automatic Heavy Truck Export Order to Colombia 2022-04-08
- 400 Units of FOTON AUMAN Trucks Delivered to an Int'l Brewery Group of Nigeria 2022-04-01
- SHACMAN X5000 AMT Tractor Heads Were Exported to Overseas Market 2022-02-23
- 7 Units of AUMAN GTL Delivered to Ecuador for Transporting Concrete Raw Material 2022-01-18
- SHACMAN Heavy-duty Truck Exports Hit Record High in 2021 2022-01-14
- Hundreds of SHACMAN Heavy-duty Trucks Were Shipped to Afghanistan 2022-01-13
- Peru's President Handed Over the SHACMAN H3000 Key to CGBVP 2021-12-20
- FOTON Super Powertrain Helps Oil and Gas Transportation in Laos 2021-12-01
- JAC Exhibited in 2021 World Manufacturing Convention 2021-11-25
- CAMC Seals Order for 500 Electric Heavy-duty Trucks at WMC 2021-11-22
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021