Porsche Offer To Settle $1B Suit Over VW Deal Rejected

Law360, New York (January 19, 2012, 4:57 PM EST) -- A group of hedge funds on Thursday reportedly rejected a settlement offer from Porsche Automobil Holding SE aimed at ending a legal battle over $1 billion in losses related to a proposed takeover of Volkswagen AG, calling the offer too low.

The carmaker had made the offer in the low hundreds of millions of dollars subject to a condition that the hedge funds waive any possible future claims against the company, German publication Manager Magazin said.

Glenhill Capital LP, Greenlight Capital LP, Tiger Global LP and...
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