Scania: Swedish Shareholder Association to recommend members to accept Volkswagen's offer (translated)
The Swedish Shareholder Association (Aktiespararna) has decided to recommend the German Volkswagen’s offer for the remaining shares in the Swedish truck maker, Scania, Dagens Industri reported.
The Swedish business daily cited Carl Rosen, Managing Director for Aktiespararna, who said Volkswagen already won the battle for Scania in 2008 when the Swedish investment company Investor relinquished its control. He added accepting the offer of SEK 200 (EUR 22) per share is the “least bad” alternative and that rejecting it could lead to Scania’s share price dropping to SEK 130-140 (EUR 14.3-15.4) per share, the report noted.
Rosen said Scania’s robust quarterly report is not a good enough reason to the reject the offer and pointed out that the association’s and all the analysts’ calculations indicate the offer is a good one.
The item noted Aktiespararna will announce its recommendation to its members today.
Source Dagens Industri