VW Alters MAN Takeover Bid In Face Of EU Objection

Law360, New York (June 27, 2011, 12:19 PM EDT) -- Volkswagen AG said Monday that it was dropping plans to install three of its executives to the board of German truck maker MAN SE as part of a nascent takeover bid, after the European Commission raised antitrust concerns about the move.

The plan would have given Volkswagen effective control over MAN's board, but the European Commission advised the company to wait to add the executives until the deal between Volkswagen and MAN received merger approval.

"Volkswagen will continue to prepare the merger control application in close...
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