July 31, 2014
In early July, a top Daimler Trucks official told reporters that fellow German company Volkswagen would make a bid to buy American truck maker Paccar. VW denied it the rumor at the time, and now Paccar has come out with a statement as well.
July 3, 2014
Rumors have been around for a while that Volkswagen will try to buy a U.S. truck maker. Earlier rumors centered on International, but the latest is Paccar, with Reuters running a story Thursday about takeover plans and VW denying it.
June 9, 2014
Volkwagen's takeover of Scania may seem like it should only matter to Europeans, but the German automaker's goal is to be able to compete in commercial vehicles alongside global rivals Volvo and Daimler. North America is likely in its game plan.
Last month, Volkswagen, which already controlled more than 89% of the voting rights in the Swedish truck maker Scania, made a 6.7 billion euro ($9.2 billion) takeover bid. VW's goal is to combine Scania with its Volkswagen Commercial Vehicles business and the German truck maker MAN. VW gained full control of MAN last year after taking a majority stake in 2011. This is a big step in the German automaker's plan to create a massive trucks alliance to compete in global markets against rivals Volvo and Daimler – both of which have U.S. truck operations as well. Read more about Scania here.
May 13, 2014
Its $9.2 billion offer to buy out the truck-making arm of the Swedish vehicle manufacturer Scania has been accepted, according to published reports.
February 21, 2014
The former head of Daimler Trucks, who left the company last month after less than a year of overseeing Mercedes Benz cars and vans at parent company Daimler AG, will be taking over responsibility for commercial vehicles at Volkswagen AG.
January 9, 2013
Volkswagen is seeking full control over German truck maker MAN through a "domination and profit and loss transfer agreement," a type of German contract similar to a parent company and subsidiary
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