Volkswagen feels all parties walked away with a good deal in its Scania buyout.

Volkswagen Declares Scania Buyout Unconditional with Required Shares

The deal fell short the first time around, but with a deadline extension on VWs cash offer on Scania shares, Volkswagen feels all parties are walking away with a good deal.

After being rejected by several smaller stockholders and not reaching its requirement of more than 90% of all shares by the April 25 deadline, Volkswagen has now reached an agreement with shareholders to tender enough shares of Scania to Volkswagen to call the deal fulfilled.

On February 21, 2014, Volkswagen announced a public offer to the shareholders of Scania to tender all shares in Scania to Volkswagen at a price of SEK 200 in cash per share, regardless of share class. As of today, May 13, the shares tendered, together with the shares already held or otherwise controlled by Volkswagen, amount to in aggregate 723,733,927 shares in Scania, comprising 390,197,071 "A" shares and 333,536,856 "B" shares, corresponding to 90.47% of the shares and 96.26% of the voting rights in Scania.

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Comments

you go VW! :)

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