Thursday, November 27, 2014   

Large Scania shareholder accepts Volkswagen bid
(04-24 16:43)

Volkswagen has come closer to realizing its ambition to takeover Scania after the fourth largest shareholder in the Swedish truck maker announced it will accept the 6.7 billion-euro bid.
Fund manager Swedbank Robur on Thursday said it thinks the offer of 200 kronor per Scania share is reasonable.
Europe's biggest auto manufacturer said late February it wants to purchase the 37.4 percent of Scania it doesn't already own. Swedish pension fund AP4 and the Skandia Liv financial group have previously said they won't accept the bid.
With the acceptance from Swedbank Robur it will be more difficult for the naysayers to get the 10 percent backing they need to block the offer, which expires on Friday.
Scania shares rose by 7.5 percent to 186 kronor in Stockholm. --AP   
Other Business breaking news:
Eurozone loans to private sector still contracting: ECB (6 mins ago)
Hang Seng down, Shanghai on three-year high (52 mins ago)
European stocks mixed at open (1 hr 5 mins ago)
German chip-maker Infineon sees growth after solid Q4 (1 hr 10 mins ago)
Nikkei ends lower (2 hrs 36 mins ago)
UK confirms 0.7% growth in Q3 (11-26 18:38)
EU's Juncker proposes US$380 billion investment plan (11-26 17:10)
ADB ready to work with new China-led bank, says president (11-26 16:57)
Samsung sells units and announces share buyback (11-26 16:28)
European stocks up at open (11-26 16:18)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.