Monday, September 18, 2006

German truckmaker bids for Scania:

"German truckmaker Man has launched a 9.6bn euros ($12.2bn; £6.5bn) takeover bid for Swedish rival Scania.
A successful deal, which Man first said it was considering last week, would create Europe's largest truck firm.
Analysts had long expected consolidation in the European truck sector to allow firms to better compete at a global level.
The bid needs approving by Volkswagen, a key Scania shareholder, and other investors. Scania has yet to comment.
Man is currently the third-largest truckmaker in Europe, while Scania holds fourth place.
Volvo is the market leader in Europe, with DaimlerChrysler in second place. German truckmaker Man has launched a 9.6bn euros ($12.2bn; £6.5bn) takeover bid for Swedish rival Scania.
A successful deal, which Man first said it was considering last week, would create Europe's largest truck firm.
Analysts had long expected consolidation in the European truck sector to allow firms to better compete at a global level.
The bid needs approving by Volkswagen, a key Scania shareholder, and other investors. Scania has yet to comment.
Man is currently the third-largest truckmaker in Europe, while Scania holds fourth place.
Volvo is the market leader in Europe, with DaimlerChrysler in second place. "

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