Volkswagen offer for outstanding MAN shares subject to special proceedings
Volkswagen's offer for outstanding shares in MAN needs to be examined, according to the German investor protection agency DSW. A German-language press release from DSW said that the offer made by Volkswagen (VW), the listed German vehicle group, to other shareholders in the truck maker MAN is too low.
VW, which holds a 75% stake in MAN, offered EUR 80.89 per share for the outstanding shares, according to the release.
Marc Tuengler, chief of DSW, said his organization will initiate special proceedings to scrutinize the offer price. Investors interested in joining the initiative need to submit requests at the regional court of Munich by this coming Wednesday.
Source Company Press Release