German sports car maker Porsche AG Saturday said that it intends to launch a bid for the whole of Volkswagen AG after it has completed raising its stake in Europe's biggest car manufacturer to 31%, from 27.3%.
Porsche said it expects to pay ?100.92 (US$135) per VW share
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So back to having Seat Ibizas with "System Porsche" rather dubiously badged on the rear, then.
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Indeed, this is mutual back scratching. Porsche dont want VW, but they want the supplier agreements, access to the parts bin, and all things that go with economy of scale (which Porsche dont have)
Expect to see VW buy 31% of porsche, so we end up with an almost complete form of protection from hostile take over for VW
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TourVanMan TM < Ex RF >
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Having raised their stake above 30%, the law dictates they have to launch a full takeover attempt. The "clever" bit on their part, German law says you have to make an attempt, but only one. So if it fails they just stay at 31%. And by offering less than the current share value, they can be pretty certain nobody will accept their offer.
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From the article linked above:
"Porsche will perform its economic and social role even more strongly"
What does that mean??? What is Porches social role??
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Aim low, expect nothing & dont be disappointed
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Not quite sure what Porsche can do with all these EU regs coming in about CO2 output. None of their cars are anywhere near the proposed level so they have to change their position. This might be the easiest/best way
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"What is Porches social role??"
Er, stopping a nasty foreign company from buying VW?
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"What is Porches social role??" Er, stopping a nasty foreign company from buying VW?
That's its economic role. Its social role is to make us all want Porsches and envy people who have them.
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£73,173was £75,033Details
£43,995was £45,995Details
£39,990was £40,750Details
£87,950was £89,950Details