VW's $9.2B Bid Is Too Low, Scania Board Members Say

Law360, New York (March 18, 2014, 3:43 PM EDT) -- A committee of five Scania AB board members enlisted to evaluate Volkswagen AG's offer to buy out the Swedish truck maker's minority shareholders said on Tuesday that the €6.7 billion ($9.2 billion) offer is too low and advised shareholders to reject it.

The offer, which was made in late February, would see shareholders receiving 200 Swedish kronor ($31.51) per Scania share. On Tuesday, the independent, five-member committee said that they determined through their assessment that the proposal did not adequately value the company for a variety...
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